So said the famous Yogi Berra….From this morning’s Barrons:
“The mean prediction of the 10 stock-market strategists and investment managers surveyed by Barron’s is that the Standard & Poor’s 500 Index will end 2012 at about 1360, some 11.5% higher than Friday’s close of 1220. That sounds like a big gain, but a lot of things have to go right for the market to make such impressive headway. Even the most bullish of these Street seers fears stocks could be more wobbly in the next six months than in the six months past.
Ironically, 1360 is very nearly the same S&P 500 target offered up a year ago in these pages — for 2011. But what a difference a year makes. Last December, the strategists and investors we rounded up were looking ahead with modest but sturdy optimism. Investors can only look back with envy now to what seems a more hopeful, less dangerous time, when the main topic of debate was the sustainability of the U.S. economic recovery. By May the market had risen 8%, and seemed poised to motor to 1370 with ease.”
Value add, right? Right???
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.