Last year, I participated in the WSJ forecasts. Given the typical Wall Street cheerleading, I (per usual) was the most bearish person on the list.
As chance would have it, our forecasts were eerily accurate. Here are the forecasts from 2007 and the actual year end numbers:
S&P 500: 1475
Russell 2000: 825
10-year yield: 3.95%
S&P 500: 1468.36
Russell 2000: 766.03
10-year yield: 4.03 %
As I said, it is mostly dumb luck as to the final numbers.
Separating The Seers From The Seersuckers
By SPENCER JAKAB
A Dow Jones Newswires Column