A. A bond matures.
This is a good bit of journalism and the commentary is worth the read but to be honest half the reason I'm posting it is for the picture.
As analyst forecasts for 2011 continue to come fluttering over the transom, we figured we ask Credit Suisse’s chief U.S. stock watcher about his equities expectations for 2011, via one of MarketBeat’s patented email Q&As.
MarketBeat: Doug, thanks very much for taking the time. By way of introduction, you’re currently U.S. equity strategist and a managing director at Credit Suisse, working out of Boston. Before that, I see you were chief investment officer at Dover Investment Management, a money manager in the leafy environs of Greenwich, Conn. You also once toiled in the House of Morgan, where you were chief U.S. strategist. Is that about right?
Douglas Cliggott: That is correct!
MB: Alright, we’ll let’s get down to it. It’s that special time of year when analysts break out the crystal ball for a bit of gazing on what next year holds. Earlier this week you published your forecast, pegging your 2011 S&P 500 target at 1250, up from 1200. We’ve been watching a lot of forecasts come in lately, and yours looks to be at the lower end of what prognisticators expect. Goldman’s 2011 peg is 1450. Deutsche Bank — the most bullish we’ve seen — is 1550. J.P. Morgan, Barclays and BofA are all 1400 or higher. Can lay out why you see less-than-full-throttle gains next year for stocks? And have you looked at any of the other forecasts? If so, what do you see as the big difference between your views and some of the gung-ho stock watchers?...MORE