Deutsche Bank Sees SP500 at 1,550 in 2011
We've followed Binky Chadha, Chief US Equity Strategist at Deutsche Bank, over the last year or two. While his calls for a higher market get moderate coverage on CNBC or Bloomberg, he doesn't get near the play as Doug Kass predicting 2011 as flat or the PIMCO guys predicting a 'new normal' or of course the doom and gloom gang.
While 1,550 is a very aggressive 25% gain, its bullish that the market only gives him minor credibility though he has been accurate lately. Back in March he predicted the market would end the year at 1,325. As we suggested back then that number appeared too high, but it might not end much off the mark. Much more comfortable with a 1,400+ number next year as long as the market quickly dismisses such lofty targets.
Watch the below video, but the key point is that average investors have likely not heard his prediction and quickly dismiss it.
While 1,550 is a very aggressive 25% gain, its bullish that the market only gives him minor credibility though he has been accurate lately. Back in March he predicted the market would end the year at 1,325. As we suggested back then that number appeared too high, but it might not end much off the mark. Much more comfortable with a 1,400+ number next year as long as the market quickly dismisses such lofty targets.
Watch the below video, but the key point is that average investors have likely not heard his prediction and quickly dismiss it.
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