First off, “BofA/Merrill” is a really stupid name. Why don’t you pick one: Bank of America or Merrill? Second, when was the last time the market has gently glided higher for 16 years? Becaue that’s what BofA/Merrill is suggesting now, with their harebrained research note.
“Based on current valuations, a regression analysis suggests compounded annual returns of 8 percent over the next 10 years with a 90 percent confidence interval of 4-12 percent. While this is below the average returns of 10 percent over the last 50 years, asset allocation is a zero-sum game. Against a backdrop of slow growth and shrinking liquidity, 8 percent is compelling in our view. With a 2 percent dividend yield, we think the S&P 500 will reach 3500 over the next 10 years, implying annual price returns of 6 percent per year.”
Their regression analysis suggests, with 90% confidence, that you’re gonna be bored to pieces with this market, all the way out to the year 2025.
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Let us not fret. There will always be bad boys and girls to make things exciting.
Thank god no one listens to BAML’s macro equity research. The fixed income /fx / commodity stuff isn’t a bad read if you can get the strategy reports from a friend. Ever since they axed Neil Curry for too many ‘short equities’ reports I got a bit more skeptical of them
Happy Turkey Day vampyr!
Not sure how to interpret that. I’ll say this, even as a little vamp I always found Thanksgiving to be the most boring “holiday” of them all; redundant and confusing.
You could just interpret as some anonymous guy wishing you well specifically on Thursday?
Thank You. Very cordial of you.
Fly, since you are a oenophile and a general knowledgeable guy, what kind of wine should I be drinking with the turkey and for dessert?
go with a nice prosecco
“Becaue”
SUNE mowing down lazy shorts today haha
Bofa finds europe’s record €2.6T negative yielding debt shocking