It’s that time of year when Wall Street soothsayers look ahead 12 months and try to divine the path of US stocks. Last year at this time, no one writing for a major sell-side firm thought stocks would perform anywhere near as well as they did, up 23 per cent in 2024.
The median prognosticator thought we would probably move sideways, and a few bears were calling for a meaningful sell-off. The same was basically true of the forecasts the year before that. In retrospect, that failure of imagination almost looked like a contrarian bullish sign.
Source: https://www.afr.com/markets/equity-markets/stock-bears-are-becoming-extinct-is-it-time-to-worry-20250103-p5l1tb