QuiCQ 14/05/2024
Target Practice
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"Prediction is very difficult, especially if it's about the future!"
-- Niels Bohr
Cool chart here from our friends a Goldman Sachs Asset Management. In their words:
“Price targets are a popular exercise in communicating a firm’s equity views, but index returns can be difficult to predict in practice. Over the past four years, the average delta between the median S&P 500 forecast at the
beginning of a year versus the level that the S&P 500 finished said year was 17 percentage points. A strong start to 2024 has left the S&P 500 trading above most estimates, but we believe risks skew to the upside for the remainder of the year.”
