UBS make ridiculous market prediction

Stocks to rise in ’09, UBS says; S&P 500 may gain 53% - Bloomberg.com

Bloomberg.com reports global stocks will withstand a "full-blown" recession and surge in 2009 as cheap valuations and efforts by governments to restore confidence in the financial system lure investors back to equities, UBS said. The Standard & Poor's 500 Index may rally 53% to 1,300 by the end of 2009, David Bianco wrote in a note dated yesterday. The New York-based strategist, who a year ago predicted a 2008 advance of 16% for the S&P 500, is now forecasting a gain that would exceed the index's best annual performance on record.


after being so wrong in 2008,they are coming out with this ridiculous prediction! why make such a forecast,has'nt abby joseph cohen taught them anything about wild predictions?

 

Consequence :



Labor tracking firm Challenger Gray & Christmas said on Wednesday that the financial sector cut 91,356 jobs in November, the second-worst month for industry layoffs since September 2001. In September 2001 the financial sector lost 96,333 jobs. Citigroup's announced plans to cut about 50,000 jobs made up the biggest portion of the job cuts disclosed in November, the firm said. For the year-to-date, Challenger said the financial industry has slashed 220,506 jobs, compared to 147,395 jobs cut at this time last year. "Obviously, the financial sector is still struggling," Challenger chief executive John Challenger said in a prepared statement.

 

Always lots of crazy predictions... some come true, and the purveyor jumps up and down saying, "look at me"... and tries to financially capitalize on his hit.

Most are wrong and fade into dust...

UBS MIGHT even be correct... but if so likely to be with high inflation and a crashing $USD... if that's the case, it won't matter they are correct... we're still hosed.

 

its no wonder then UBS is nearly bankrupt

 

Just like ET!

 

its just foolish and irresponsible. instead of making bold predictions,just manage your clients money correctly.

 

ET is a decently representative microcosm of all traders... a few smart guys and good traders, lots without a clue... many run off at the mouth.

 

UBS doing what they can to "help" (remaining) clients.

 

Help = "give them hope [false] so they don't bolt?"

 

Let me guess. They hired stock_trd3r !