Saturday, April 19, 2008

Goldman Sachs and Wells Fargo warn 'delusional' investors on stocks

Not yet, methinks (but tread lightly Monday, the day after options expiration has spanked me more than once).
I'll have some prognostications next week.
From the Telegraph:

Wall Street faces the growing risk of an equities bloodbath in coming months as the credit crunch spreads to the wider economy and earnings crumble, according to a pair of grim reports issued by Goldman Sachs and Wells Fargo.

David Kostin, the chief US investment guru for Goldman Sachs, expects the S&P 500 index of Wall Street equities to plummet a further 15pc over the "near term" as companies scramble to lower their outlook for this year....MORE

HT: DealBreaker who writes:
Forgive me, but I have a hard time paying attention to the likes of Wells Fargo when it comes to market advice. (Then again, Goldman doesn't thrill me either, so maybe I'm the problem)....MORE