Back in 2010 these two stock market experts criticized Fed’s Bernanke and said he’s a dunce that doesn’t know his own business. They predicted the $600 billion dollar stimulus would flop. So take a look at their video – how did they do?
Here’s another prediction: Wells Fargo Advisors’ chief macro strategist Gary Thayer. He projects corporate earnings will only increase 6% in 2011.
He added that government moves like the $858 billion tax cut compromise and the Federal Reserve’s $600 billion injection will prop up the markets in the first half of the year but will lose steam during the latter half.
His year-end target for the S&P 500 is tied for the worst at 1,300 — that’s up only 3% from where the index ended 2010.
Okay, so how did Thayer do? Well, we’re closing in on the end of 2011 and the stock market is right where he said it would be.