A few readers have asked us for our views on where equity markets are headed.
As an indication of what an uncertain craft this forecasting business is, note that The Australian Financial Review's Markets Today column monitors the forecasts of 11 investment banks in Australia.
These forecasts are made by economists and analysts who spend their entire lives studying relevant statistics and markets, they have vast experience and they are highly educated.
The S&P/ASX200 is currently 5069. The forecasts for the end of year is a range of 4000 by Gerard Minack (Morgan Stanley) to 5200 by Tony Brennan (Citigroup).
Draw your own conclusions on the merit of Cuffelinks adding a 12th opinion. Which would you believe?