David Rosenberg, "The experts as a group were only off by 45%"
David Rosenberg, Merrill Lynch’s North American economist, notes that no market forecaster expects 2009’s stock market to finish in the red. This is similar to last year when the consensus view was that the S&P 500 would finish 2008 at 1,640. Rosenberg believes that the market could disappoint again this year as this recession could last longer than expected.
Source:
http://www.smartmoney.com/Investing/Stocks/Do-not-Be-Fooled-by-Bear-Market-Rally/
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