As any showman will tell you, you’ve got to have a gimmick. For UBS’s David Bianco, it seems his gimmick is being wildly bullish. He’s calling for a global equities surge in 2009, predicting stocks will rise by as much as 53%.
“The consensus outlook for 2009 is a full year of gloom,” Bianco wrote yesterday in a report quoted by Bloomberg. “We believe 2009 will bring signs of a dawn in confidence with the first faint light appearing earlier than most investors expect.”
This is almost the perfect analyst report. If he’s right, he’ll be the hero who somehow caused the amazing bounce back in equities. If he’s wrong–as he was this year, calling for a 16% climb in stocks–no one will ever remember.
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