It seems like every year we have more and more Wall Street analysts coming out with ridiculously optimistic projections for the year even though worrying signs are staring them in the face. 2015 was no different, however the markets did not deliver those rallies. So what is a Wall St. analyst to do? Scratch out 2015 and put 2016 on that list, at least that is what quite a few did.
Northman Trader put together a great summary image of Wall St projections for 2015 and 2016.
Even though global economic growth was slowing, earnings estimates were being revised down and inflation was nowhere to be found, S&P projections largely remained constant. The one analyst that was pretty right was Nuveen’s Bob Doll who expected a fairly volatile year.