Media Appearance: Kudlow & Company (12/18/06)


I’ve been avoiding doing much tube lately (until we have our announcement in 2007) — but at Larry’s request, I am back in the studio tonite, at 5:00 – 5:25pm.

The topics will include the wild Bullishness on Wall Street, the declining Transports, Large Caps beginning to stir, and some of the less believable economic news releases (i.e., CPI and Retail Sales)

Guests include the David Reilly of Rydex, John Rutledge — with special appearance with former independent counsel Ken Starr, now Pepperdine University Law School dean.

A few random thoughts about these items:

Everyone is Bullish! 

My colleage James Altucher called for Dow 16,000 next year; Don Hays last week is looking for a 27% Gain in SPX in 2007; Cody’s Get Real column essentially says ignore everything else, only the rally matters;

So notes Bloomberg, in an article:  Stock Strategists Raise Alarms With Call for Rally

"The last time Wall Street unanimously predicted an advance
for the S&P 500, in 2001, preceded a 33 percent slump over the
next two years . . .

The lack of dissent among strategists has caught the
attention of some investors. Since the current bull market began
in October 2002, at least two strategists every year have
estimated declines for the S&P 500 in their annual forecasts."

Firm             Strategist             Forecast*
Banc of America  Thomas McManus         1465
Bear Stearns     Francois Trahan        1550
Citigroup        Tobias Levkovich       1600
Deutsche Bank    Binky Chadha           1540
Goldman Sachs    Abby Cohen             1550
JPMorgan Chase   A. Chakrabortti        1440
Merrill Lynch    R. Bernstein           1570
Morgan Stanley   Henry McVey            1525
Prudential       Edward Keon            1630
Strategas        Jason Trennert         1600
UBS              David Bianco           1500
Wachovia         Rod Smyth              1500
Average                                 1539

* Year end or 12-month forecast


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