Sometimes I wonder what it takes to be a Wall Street analyst. Judging by the average analyst estimate for the S&P 500 it looks like the job requirements are pretty simple:
“Applicant must be able to determine current value of S&P 500 and multiply by 1.1.”
The latest analyst estimates are ALL bullish and approximately 10% (EXACTLY in-line with the erroneously widespread accepted long-term average of equity returns) higher than beginning of the year levels:
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.