Posted on: Friday, April 10, 2009 6:32 PM EST
Yes, Barron's featured analysts in December of 2007 that saw 2008 as a "Bullish Year" instead of a year that will soon end with a sound like passing gas.
In an Barron's Article on December 17, 2007 titled
"A Bullish Call" a panel of "experts" tell readers why they are bullish for 2008.
There is one thing in common with all of these "analysts" they forecast that the S&P 500 wound finish 2008 over 1,500 and place the Fed funds rate around 4.5% not where it is today (basically negative). As of this post these "experts" off by 50% or more to the downside.
I recalled reading a lengthy Barron's article last year where the respected Abby Cohen put the S&P 500 at 1675 for the end of 2008. I cannot help but think "do these people still have their jobs?"
These "experts" were not a bunch of people off the street. They worked for "respected" Wall Street firms. (Two were employed at Lehman Brothers and Bear Sterns).
You can see each person on the PDF below but just for giggles here are the companies these wonderful people worked for: Deutsche Bank, JPMorgan, Merrill Lynch, Citigroup,UBS Securities,BofA Securities, Morgan Stanley, Credit Suisse, Goldman Sachs, Bear Stearns, and ISI Group.
Click the image below to view the PDF
