They didn’t exactly nail every detail. But U.S. equity strategists got one thing right about 2016: where the S&P 500 Index would end up.
In fact, their accuracy in predicting the annual gain of 9.5 percent is unprecedented in Bloomberg data going back to 2000. At 2,216 last December, the mean Wall Street prediction ended up being 1 percent too low, as the benchmark gauge traveled 195 points in 12 months to close at 2,238.83.
Read Full Article »