The 10 Dumbest Analyst Calls of 2008
Michael Shulman, January 1, 2009
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“I think the charts have been forewarning us that the markets are deteriorating...The 2002 lows are very vulnerable and chances are good they are going to be broken.”
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And how about Louise Yamada, founder and the boss of Technical Research Advisors? She is generally regarded as one of the best -- and perhaps the best -- technician on the planet and has called most everything that has gone on in the market. Her current thoughts? An S&P eventually trading between 400 and 600 as, she says, the market is making "lower highs and lower lows." The basis of this forecast? The "bricks" -- the companies -- that make up the S&P 500 do not have the earnings power in 2009 and beyond to support valuations at their current level.
Next: "In terms of nominal GDP, I see it being around 1% for a long time…"
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