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Well, Applegate, Galvin & Steinberg Got Canned...


Contrarius

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?The S&P 500 should be 56% above Wednesday's close at the end of 2002.?

[closed at 1178]

Ed Kerschner, UBS Warburg

September 16, 2001

 

"I expect investors to look over the valley of weak earnings in first half of 2002 to strong growth in second half of 2002. I estimate 2002 S&P 500 operating earnings-per-share to come in at $51.00. Valuation models continue to show that stocks are attractive and pegs the S&P 500's level at year-end 2002 at 1,570, an upside of 39 percent from current levels."

Ed Kerschner, UBS Warburg

December 3, 2001

 

"The earnings quality issue is not a new one and that the recent deterioration has been overstated by many observers. In the 1970s, earnings quality was poor because of high inflation. But with inflation low, earnings quality is now better than the historical norm based on an earnings quality index derived from the GDP accounts. By this measure, earnings quality has been excellent.?

Edward Kerschner, global investment strategist at UBS Warburg

Feb 25, 2002

 

?I expect the SP 500 to rise 16% over the next 12 months. My forecast is for the SP500 to be at 1360 by the end of the year. Relative to bonds today, stocks are modestly attractive, albeit decreasingly so.

UBS Warburg strategist Ed Kerschner

March 18, 2002

 

 

Here's some of today's crap, from one of Doc's favorites:

 

?The U.S. economy will grow at a 3.1 percent rate over the first half of 2003, accelerating to a 3.5 percent pace by the end of the year. Providing the impetus for growth are the most recent half-percentage point interest rate cut by the Federal Reserve, a change in the White House economic team, and a potential $300 billion fiscal stimulus package. I?ve set a year-end 2003 target price of 1,150 for the S&P 500 Index , which would represent a 27 percent increase over current levels and investors should overweight equities versus Treasury bonds and cash.?

Joseph Battipaglia, chief investment officer, Ryan Beck

December 16, 2002

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You're more likely to get "called on the carpet" from making stoolpid comments on this suite than by saying crazy shit on CrapVision.

 

It's bizarre to me that noone ever keeps score over there on Crapo.

 

They just march out the same guys over and over again like it was their first time.

 

They spew a bunch of nonsense and then take off like some kind of Ghost Of Bull Markets Past.

 

Man, I'd love to get paid to just shoot Da Bull and never be held accountable.

 

What a job, what a great country !!!

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Goldman Sucks trotted out Abby again a week before OX scam. The afterhours last Friday showed a hurried and rushed Nasduck futures print of -41 just after 4:15 pm. An important fib number was thus slipped in hoping nobody noticed. Phone up your buddy at Barron's and let the bears have some coverage and screw the bears on Monday. What a game! At this rate of manic short covering this rally will achieve its retracement by Wednesday, or possibly even tomorrow. I may try a very short term short tomorrow near the close or Wednesday, hopefully at a nice cycle peak. With Abby it's good to give GS a least a couple of days for their scamming and slam on the third day. I bet Wednesday will be an excellent short for at least through Thursday's close and stay out for Friday. This applies to my gambling with options fun. Or I may step aside and let them have their fun entirely and just watch from the sidelines.

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