The Year Of The Bad Calls
Picking stocks isn't easy in any year. This year, however, a volatile market has been especially rough on the forecasters. To pinpoint just how rough, Business Week analyzed the stock choices and price targets of major brokerage and investment bank analysts from November, 1999, through January of this year and compared them with current prices. Some of the worst projections are shown in the table. Not only are these stocks way off the rosy targets forecasters made around the start of the year, but also many have nosedived by more than 70%.
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