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http://www.businessinsider.com/societe-generale-bearish-on-us-stocks-2013-10
Nearly all of Wall Street is optimistic about the prospects for the stock market in the coming years.
Today, the S&P 500 closed at 1676. The median 2014 year-end target for the index among Wall Street equity strategists, according to a poll by Bloomberg, is 1900 — 13% above today's levels.
Thus, a new report from Société Générale's asset allocation team — which calls for a 15% correction in the stock market in the first quarter of next year, followed by a multi-year journey back to where the index sits today — may come as a bit of a shock.
In the report — titled "S&P 500: -15% in sight, then the big sleep" — SocGen's global head of asset allocation, Alain Bokobza, explains how an unwind of easy money policies at the Federal Reserve and ongoing dysfunction in Washington will cause the stock market to languish.
Read more: http://www.businessinsider.com/societe-generale-bearish-on-us-stocks-2013-10#ixzz2h89mBcS9
Nearly all of Wall Street is optimistic about the prospects for the stock market in the coming years.
Today, the S&P 500 closed at 1676. The median 2014 year-end target for the index among Wall Street equity strategists, according to a poll by Bloomberg, is 1900 — 13% above today's levels.
Thus, a new report from Société Générale's asset allocation team — which calls for a 15% correction in the stock market in the first quarter of next year, followed by a multi-year journey back to where the index sits today — may come as a bit of a shock.
In the report — titled "S&P 500: -15% in sight, then the big sleep" — SocGen's global head of asset allocation, Alain Bokobza, explains how an unwind of easy money policies at the Federal Reserve and ongoing dysfunction in Washington will cause the stock market to languish.
Read more: http://www.businessinsider.com/societe-generale-bearish-on-us-stocks-2013-10#ixzz2h89mBcS9
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