Here are a couple of random headlines I saved from earlier this year, just to see how they’d do:
Feb 24, 2010:
'Market to Rise 10%—Buy Techs & Banks: Stock Picker'
David Katz, chief investment officer of Matrix Asset Advisors, said, “We think the year ends about 10 to 12 percent higher on the year, probably 13 to 15 percent higher from here.”
March 1, 2010:
' 'Powerful' 17% S&P Growth in 2010: Equity Strategist Phil Dow'
Phil Dow, director of equity strategy at RBC Wealth Management, called for the S&P 500 to reach 1300 by year’s end, "roughly 17 percent [growth] for the year."
Well, to make his target, Dow’s prediction will have to earn 19% from today’s level, and he now has just seven months to get there.
As to Katz, all of the market’s rollicking gains since his Feb. 24 prediction are gone and the S&P is sitting below its level on that date.
Chart courtesy of StockCharts.com
