Business Week’s 2006-year end predictions are out, and they cover 75 or so Wall Street Strategists and Analysts. Over all, they seem to show a fairly bullish bias amongst the chattering pundits.
How Bullish Are Wall Street Strategists?
click for larger graph
Source: Business Week, Tim Iacono
As the graph above shows, the herding instinct is alive and well with the group clustered between 11-12,000 on the Dow, while advising 40-75% US Equity exposure. Note the outliers: 14,000/100% on the upside, and 6,800/15% on the downside.
Quote of the Day:
"Courage is not the lack of fear. It is acting in spite of it."
~ Mark Twain