Predictions through 2/18/08

By on February 18, 2008

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Gary B. Smith is still calling for a bottom in the housing stocks as he has wrongly done over the past 6 months. Jeremy Grantham forecasts a drop in the S&P 500 to 1,100 over the next couple of years. This type of dragged out bear market would cause considerable pain and angst, and remove much of the rampant risk-taking that was prevalent over the past 5 years. Grantham became bearish too early, but he may be right over the long term.

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