Wall Street's Strategists About As Good As Monkeys Throwing Darts
The Standard & Poor's 500 had its best week of 2016, gaining 2.8% in the four days of trading ended Friday, February 19.
2016 has gotten off to a difficult start for stocks. The S&P 500 started the year at 2044 and closed Friday at 1918, about a 5% loss for the first seven weeks of the year.
Last week's surge in stock prices could continue, or it may not. Predicting the next turn in the market is not what we do. It is what Wall Street's largest firms say they do, but they don't seem to be doing it very well.
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