For subscribers
Why Wall Street is making irrelevant market predictions again
Sign up now: Get ST's newsletters delivered to your inbox
This mission is impossible, but that hasn’t stopped teams of well-trained strategists in Wall Street from forecasting the future.
PHOTO: AFP
Jeff Sommer
An annual ritual is under way at the major Wall Street investment houses: predicting exactly where the S&P 500 will finish the next calendar year.
This mission is impossible, but that hasn’t stopped teams of well-trained strategists at august brokerages and investment banks such as Goldman Sachs, Bank of America and Morgan Stanley from focusing their analytical firepower on forecasting the future.
