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Seth Golden posted an update 4 years, 4 months ago
“Legendary investor Sir John Templeton famously remarked: “Bull markets are born in pessimism, grow on skepticism, mature on optimism and die on euphoria.” In six weeks, as the S&P 500 soared by 30%, investors have raced from despair at the bear market bottom to optimism about the economic re-start. Our S&P 500 forecast shows 2% upside to a year-end 2020 target of 3000 but 18% downside to our three-month target of 2400. A single catalyst may not spark a pullback, but concerns exist that we believe, and our client discussions confirm, investors are dismissing including $103 billion in expected bank loan losses in the next four quarters, lack of buybacks, dividend cuts, and domestic and global political uncertainty”
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