>Sorry 'Bout That!
If Wall Street's strategists picked stock-price targets by flinging darts, they might have done a better job of forecasting the market's performance in 2001. The most conservative seers expected the Dow Industrials to end the year at 11,000, while the most bullish saw the Dow hitting new highs above 13,000. More likely, the humbled average will finish the year around 10,150, down some 14% from its January 2000 high of 11,723.
2001 DJIA Prediction Strategist Company
Douglas Cliggott J.P. Morgan 11,000
Richard Bernstein Merrill Lynch 11,000
Thomas McManus Banc of America Securities 11,500
Stuart Freeman A.G. Edwards 12,500
Thomas Galvin Credit Suisse First Boston 12,650
Abby Joseph Cohen Goldman Sachs 13,000
Jeffrey Applegate Lehman Brothers 13,000
Edward Kerschner UBS Warburg 13,900
Dow Jones Industrial Average* 10,137
*As of December 28<<
even though my range was broken for a brief period, it was a lot closer than these clowns. I predict the Dow will end up 10% lower in 2002 from current levels. |
