Well, probably. Some day. But the last two years have not been good for the naysayer expert predictions of imminent doom:
Ask anybody on Wall Street last December what was next for stocks, and most would’ve told you they were going lower this year. However, Morgan Stanley’s chief US equity strategist, Mike Wilson, was one of the most adamant bears.
He said stocks had run out of steam in December, and the S&P 500 would fall to between 3,000 to 3,200.
Instead, the S&P 500 is up about 18% this year, significantly better than the annual average return of about 10% over the past 30 years. It closed at 4,554 on July 24.
Wilson apologized for his wrong-way bet in a note to Morgan Stanley clients on July 24.
Wall Street Analyst Admits ‘We Were Wrong’ – TheStreet
Expert predictions. Always really reliable.
