Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
The folks on Wall Street remain optimistic that the party will keep on going. Hopefully nobody takes away the punch bowl.
Ten of the top analysts from the mainstays of Wall Street made predictions to Barron’s in an annual December survey. Their expectations for 2015? The S&P 500 will continue to soar (+10% was the mean prediction), the American economy will continue to gain traction (+3.0% GDP growth), and the top performing sectors will be Technology and Financials.
The worst performing sector will be Utilities, which has been the best performing sector of 2014 so far.
While we were not surprised that top analysts chose their own sector (Financials) as a top performer, we were surprised that not a single analyst expects a pullback in 2015. In the same sense, the vast range of GDP expectation variability is between the bounds of 2.8% and 3.5% growth.
Keep the Kool-Aid flowing, and drink it all up before it sits out in the sun too long.
For the full survey, check out Barron’s article here on it.
Comments
dls
I look forward to reading your review of what these jokers had predicted for 2014 versus what actually panned out.