August 24, 2015
One of Wall St's biggest bulls throws in the towel
Piper finally slashed its uber-optimistic market call for 2015, cutting its S&P 500 price target from what now seems an unreachable 2,350 all the way down to 2,135.
The S&P 500 was apparently trading somewhere around 1,900 when they threw in the towel. The price target is now 2,135. They therefore expected the index to rise roughly 12% by year end, or at roughly a 40% annualized pace.
Oh, my! Only a 40% pace? Full capitulation! Uber-pessimistic! They've become permabears! Buy now or forever be priced out! They're just not making any more towels!!
Forehead. Desk. Whack. Whack. Whack.
Watch Inventory and Why Measures of Existing Home Inventory appear Different
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Today, in the Calculated Risk Real Estate Newsletter: Watch Inventory and
Why Measures of Existing Home Inventory appear Different
A brief excerpt:
We ar...
2 hours ago
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