Media Appearance: CNBC's Squawk on the Street (1/10/08)
This morning, I am on CNBC's Squawk on the Street, at 10;40am.
Today's appearance is courtesy of our winning forecast in the WSJ 2007 contest, which was described as "eerily close" to the final tally.
As I have said many times, these contests come down to mostly dumb luck, that forecast is folly, and as wildly off as I was in 2006, I was that wildly on in 2007. We do them for fun, and never ever ever make investments based upon them.
With those weasely caveats in place, here are our forecast for 2008:
2007 Close 2008 Mid Year 2008 Final
DJIA: 13265 11,900 12,800
S&P 500: 1468 1275 1350
NASDAQ: 2652 2275 2400
Russell 2000: 766 580 639
10-year yield: 4.03 3.75 4.10
Favorite sectors are Health Care, Consumer Staples (Food & Tobacco), Engineering/Infrastructure, Utilities, Miners (especially Gold). We still like Oil and Agriculture, but the easy money has already been made. We are looking to buy into Technology, but from appreciably lower levels than present.
I will leave you with this slightly randy limerick, courtesy of one curmudgeonly troll:
The forecaster is a gentle man
With neither sword nor pistol
He walks along most daintily
Because his balls are crystal
2007 Forecasts after the jump
S&P 500: 1475
Russell 2000: 825
10-year yield: 3.95%
S&P 500: 1468.36
Russell 2000: 766.03
10-year yield: 4.03 %
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Say "High" to the Opium Queen.....
Posted by: michael schumacher | Jan 10, 2008 10:01:35 AM
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