After getting his 2023 forecast catastrophically wrong in Nov 2022 when he predicted the S&P would close 2023 at only 4,000, or effectively unchanged for the year…
… Goldman’s chief equity strategist David Kostin scrambled to overcompensate in his next annual preview, first writing in his 2024 Equity Outlook note published in mid-November that he now expected the S&P to close at 4,700…
… only to change his mind exactly one month later when, in the middle of the biggest year-end meltup in decades, he revised his 2024 price target upward again this time to 5,100.
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www.zerohedge.com/markets/goldman-was-dumping-billions-stocks-and-other-assets-it-told-clients-buy
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