Albert says 450
Bob Janjuah trails at 550.
See "Take That Albert Edwards: "The Bear Market Bottom Will Be S&P 400"--Russell Napier"
From Pragmatic Capitalism:
FELIX ZULAUF: THE SECULAR BEAR MARKET WILL LAST ANOTHER 5 YEARS
Good thoughts here by Felix Zulauf of Zulauf Asset Management (thanks to Barry Ritholtz). Zulauf believes the global economy remains in a deep contraction that has been only papered over by government spending. But he sees austerity setting in now and now contributing to the decline in growth. He predicts another 5 years in the secular bear market with the S&P 500 dropping to 500 by the middle of the decade. Additional summary...MOREThis is going to be a long race.
In the meantime: