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JPM's Tom Lee Announces His Dow Jones Industrial Average Price Target: 20,000

Tyler Durden's picture




 

Back in July 2008, just before all hell broke loose and the S&P was trading in the upper 1,200s, everyone's favorite permabull, JPM strategist famously reiterated his S&P 500 price target for the end of 2008: 1450. Two months later Lehman filed for bankruptcy, and 4 months later the S&P closed 2008 some 40% lower than said price target. Another two months later and anyone who had listened to Tom Lee lost 50% of their investment.

Today, as the Fed's balance sheet crosses $3 trillion, and the global central banks have pumped a total of some $15 trillion into the markets, Tom Lee ws back on CNBC with what is his most permabullish prediction ever: he now expects the S&P to generate some 150 in earnings to which he applies a 17x multiple. His conclusion "If you put a 17 multiple on $150, the S&P really sort of peaks around 2,400 or 2,500." In Dow terms, this means a Dow Jones Industrial Average of, drumroll, 20000. He does, caveat it, however: "that's obviously 4 years away." And if Tom Lee was off by 40% in 4 months, we can't help but wonder what the hit rate on his 4 year prediction will be, and if, by using the same ruler extrapolation mechanism he applies to corporate earnings nand multiples one extrapolates the Fed's balance sheet at some $7 trillion in 4 years, what a loaf of bread will cost just as the DJIA crosses 20,000. For future humor purposes, it may be useful to bookmark this post.

 

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Mon, 01/28/2013 - 15:13 | 3192180 francis_sawyer
francis_sawyer's picture

BuRRish!... MeRRt up!

Mon, 01/28/2013 - 15:15 | 3192194 camaro68ss
camaro68ss's picture

Epic Muppet slaughter is upon us

Mon, 01/28/2013 - 15:15 | 3192200 Tippoo Sultan
Tippoo Sultan's picture

"Dow 20,000"

It appears Tom sees some asset inflation in the pipeline.

Mon, 01/28/2013 - 15:20 | 3192227 NotApplicable
NotApplicable's picture

Meanwhile, Tom cannot walk down the streets of NY without being mobbed by tourists requesting that he show them his "Gangnam Style."

But at least the Pamela Anderson jokes have subsided for a while

Op...

Op...

Op...

 

Mon, 01/28/2013 - 15:56 | 3192347 Fukushima Sam
Fukushima Sam's picture

20,000 in 2017 dollars?  He might be on the low side...

http://mises.org/daily/2532

 

Mon, 01/28/2013 - 16:03 | 3192367 Stuck on Zero
Stuck on Zero's picture

Tom Lee will be right in 2017.  The DJIA will be 20,000.  Also, a first class stamp will be $29.50. 

 

Mon, 01/28/2013 - 16:15 | 3192408 bania
bania's picture

I've never seen a Tom Lee who didn't go long.

Mon, 01/28/2013 - 16:41 | 3192513 ACP
ACP's picture

Remember these from high school:

Abby Cohen : Goldman Sachs :: Tom Lee : JP Morgan

Mon, 01/28/2013 - 15:31 | 3192262 Panafrican Funk...
Panafrican Funktron Robot's picture

Meanwhile, a "fat finger" in silver.

http://www.finviz.com/futures_charts.ashx?t=SI&p=h1

Still waiting for that inevitable, 1 minute spike to it's true dollar price.  

Mon, 01/28/2013 - 15:52 | 3192340 Uber Vandal
Uber Vandal's picture

Too bad he did not break out the old "Dow 36,000"

http://www.amazon.com/Dow-36-000-Strategy-Profiting/product-reviews/0609...

 

Mon, 01/28/2013 - 16:48 | 3192469 EscapingProgress
EscapingProgress's picture

So, in other words, the DOW will approach 0 in real terms, and then it will just end. Similar to Zimbabwe's stock exchange after the Zimbabwe dollar experienced 89.7 sextillion percent inflation.

"Trading was stopped from Nov. 21 after Zimbabwe’s central bank accused some traders of using fraudulent checks to buy shares. Eleven companies and nine individuals had their accounts frozen on Nov. 20 after the checks totaling “60 hexillion” Zimbabwe dollars had been used to buy shares, Zimbabwe’s central bank governor Gideon Gono said in a statment."

Source: http://www.bloomberg.com/apps/news?pid=newsarchive&sid=azBA_vSF1Lg8

Keep the printers printing!

Mon, 01/28/2013 - 15:17 | 3192210 Agent P
Agent P's picture

Oh Tom Rree, I rrike you styrre...you so crazy!!

Mon, 01/28/2013 - 15:26 | 3192242 homersimpson
homersimpson's picture

Tom Rhee full of doo-dee since S and P will be at 333!

Mon, 01/28/2013 - 15:28 | 3192253 LongSoupLine
LongSoupLine's picture

I'd love to see someone knock his fucking teeth out live on CNBC. That would be fucking bullish for the middle class.

Fuck you Lee and your ball licking employer. Assholes.

Mon, 01/28/2013 - 16:34 | 3192454 akak
akak's picture

He can't help being a douche --- it's simply the eternal nature of his blobbing-up Chinese citizenism coming out in his offuscationalizing wording of mind and throating of ideas. 

Alas, alas, three times alas, his inability to self-indict is the mattering thing, the crustiest bit of very much something.

Mon, 01/28/2013 - 20:36 | 3193243 TheFourthStooge-ing
TheFourthStooge-ing's picture

The wordings he throats animated reflectation by JPM mob mind and is constantly looking for a scapegoat diligently. An action supported by a global media network with highness of vigour.

Under lifetimes of Chinese citizenism endocrination, that's what he mentioned having no bearings. It results from the unsinkable mettle of Chinese citizenism duplicity.

Somehow, boats are sinking all around the world. All boats are not equal when it comes to scuttling. Especially when the boat you sail is a Chinese citizenism pirate flag.

Mon, 01/28/2013 - 16:24 | 3192443 slaughterer
slaughterer's picture

What if Tom is right and we emerge from this 10 year bear market with a nice double over the next 4 years of Obama's second term?  Everything doubles as the dollar is sliced in half.  It is an entirely realistic probability.  

Mon, 01/28/2013 - 17:58 | 3192743 Larry Dallas
Larry Dallas's picture

Wow. I thought Abby Joseph Cohen was bad. This takes the cake!

Mon, 01/28/2013 - 15:12 | 3192183 thepigman
thepigman's picture

Tom is now  the biggest fucking shill on the planet. Or is Biriniyi up there with him?

Mon, 01/28/2013 - 15:26 | 3192247 NoDebt
NoDebt's picture

He's got a ways to go to catch up to Dick Bove, but he's showing real promise.

Mon, 01/28/2013 - 16:04 | 3192370 eclectic syncretist
eclectic syncretist's picture

This call is for his client account, not his personal account.  He just forgot to make the differentiation public.  He wants to sell you the shit JPM is shoveling out the door after all.

Sounds a lot like abby cohen (in 2007) calling for the S&P500 to hit 1675 in 2008.

Mon, 01/28/2013 - 15:13 | 3192184 zorba THE GREEK
zorba THE GREEK's picture

So Tom Lee thinks there will be hyper-inflation also.

Mon, 01/28/2013 - 15:21 | 3192224 Manthong
Manthong's picture

That's probably the last thing on his mind, but it might be what happens if the Fed's exquisite formulations suffer an unforseen perturbance.

Mon, 01/28/2013 - 15:15 | 3192185 Divided States ...
Divided States of America's picture

Thats good to know, that means Hyperinflation will be coming to a town near you... which means I can finally make good use of my guns and ammos that i have been stockpiling.

Mon, 01/28/2013 - 15:17 | 3192206 Dr. Engali
Dr. Engali's picture

You have guns and ammo? You must be a terrorist.....Tell me do you believe the constitution is still valid today? You do? Off to Guantanamo with you.

Mon, 01/28/2013 - 15:27 | 3192216 Divided States ...
Divided States of America's picture

I think I just saw a FBI and CIA van just pull up on my drive-up...oooops.

Mon, 01/28/2013 - 16:50 | 3192545 francis_sawyer
francis_sawyer's picture

start shootin!

Mon, 01/28/2013 - 18:44 | 3192896 ZeroAvatar
ZeroAvatar's picture

It says 'Flowers By Ilene' on the side.  It's parked next to the one that says 'Clyde's Insurance Agency'.

Mon, 01/28/2013 - 15:14 | 3192186 Dr. Engali
Dr. Engali's picture

He must be sleeping with his little bitch James Dow 20,000 Altucher.

Mon, 01/28/2013 - 15:19 | 3192214 Bay of Pigs
Bay of Pigs's picture

Maybe a threesome with Abby Joesph Cohen?

Mon, 01/28/2013 - 15:20 | 3192226 francis_sawyer
francis_sawyer's picture

Drinkin the Koo-RAID...

Mon, 01/28/2013 - 15:23 | 3192238 Agent P
Agent P's picture

Thank you for the image...now if you'll excuse me, I have to go Google how to clean vomit out of a keyboard.

Mon, 01/28/2013 - 15:25 | 3192243 Bam_Man
Bam_Man's picture

Throw in Mary Jo White and make it a "fearsome foursome".

Mon, 01/28/2013 - 15:32 | 3192265 Groundhog Day
Groundhog Day's picture

don't forget elaine "wait til they get a load of me" gazzerelli

Mon, 01/28/2013 - 16:01 | 3192358 AlaricBalth
AlaricBalth's picture

I think Warren and Becky would like to jump in on some of that action.
:-p

Mon, 01/28/2013 - 16:08 | 3192381 Bam_Man
Bam_Man's picture

Unfortunately, Elaine is unavailable because she is busy getting her 39th facelift.

Mon, 01/28/2013 - 15:13 | 3192187 Zer0head
Zer0head's picture

seems low unless the printing press seizes up

Mon, 01/28/2013 - 15:14 | 3192191 RSBriggs
RSBriggs's picture

Not that this information is worth anything, but my long term indicators show  hitting 18,000 on the Dow just before everything all falls apart.  If it hits 17,000 you'd better seriously start getting ready for the "big one" cause it isn't far behind...  

Mon, 01/28/2013 - 15:20 | 3192222 DavidC
DavidC's picture

I'd really like to know how you get that.

All I can see, looking at the Dow going back to 1900, is a massive triple top (whether log or linear).

I will concede that no one imagined the Central Banks would do what they've done (out of sheer panic and desperation) since 2009, but unless they all band together (PBoC? I don't think so) I really cannot see how it's going to get that high before blowing up, or should I say imploding.

DavidC

Mon, 01/28/2013 - 15:15 | 3192196 The Alarmist
The Alarmist's picture

Did he happen to mention his target for the USDX is something like 0.60?

Mon, 01/28/2013 - 15:25 | 3192241 Unprepared
Unprepared's picture

Nope, but implicitly USD = 1oz/4000,  if you know what I mean.

Mon, 01/28/2013 - 15:16 | 3192202 LawsofPhysics
LawsofPhysics's picture

Just in case anyone was unsure about dollar destruction. Did he say anything about taking delivery of PM's or what energy prices might look like?  DOW 20,000 k, COMEX default.  Okay, I'll get right on that.  Fucking shill.

Mon, 01/28/2013 - 15:16 | 3192205 cpzimmon
cpzimmon's picture

He wants to pack the market...like he's done to his piles.

Mon, 01/28/2013 - 15:17 | 3192207 Unprepared
Unprepared's picture

Yep, the 3rd time would be the charm, we just need to find outselves another 1980's and 90's.

Mon, 01/28/2013 - 15:20 | 3192221 thepigman
thepigman's picture

We can do it on 1% growth this time:-)  Why the hell not?:-) Bernank's got ur back.

Mon, 01/28/2013 - 15:18 | 3192211 lemarche
lemarche's picture

POOR SUCKER !!! WILL HE CUT HIS HAND WHEN HE S PROVED WRONG, FOR ALL THE LOSSES THE TRUSTING CLIENTS WILL FACE???... LOL...

Mon, 01/28/2013 - 15:20 | 3192218 mayhem_korner
mayhem_korner's picture

 

 

He looks a lot different than in those videos with Pamela...

(oh....)

Mon, 01/28/2013 - 15:23 | 3192235 NotApplicable
NotApplicable's picture

As I was saying, at least the Pamela Anderson jokes have subsided...

Mon, 01/28/2013 - 15:47 | 3192321 mayhem_korner
mayhem_korner's picture

 

 

My bad.  The whole Uncle Warren - Bequicky thing this morning has my brain in a polluted place...

Tue, 01/29/2013 - 01:18 | 3194037 StychoKiller
StychoKiller's picture

There are websites that can help with that...  :>D

Mon, 01/28/2013 - 15:20 | 3192223 kaa1016
kaa1016's picture

I really hate these guys. That's a strong statement but CNBC is desperate for ratings because there is really nothing else going on right now. So they trot out these assclowns. They should just stop the bullshit and have cage matches, paternity tests, and Mandy Drury's tits on full display to make it Jerry Springer. I had to get that off of my chest, I feel better...

Mon, 01/28/2013 - 15:26 | 3192244 DavidC
DavidC's picture

The other (ZING!) that really (WHOOSH!) annoys me (FWANG!) is the (FARP!) continual sound (WHEE!) effects.

DavidC

Mon, 01/28/2013 - 15:20 | 3192225 surf0766
surf0766's picture

Are there any 36,000 hats still available?

Mon, 01/28/2013 - 15:43 | 3192301 CaptainSpaulding
CaptainSpaulding's picture

Yes, Contact Susquehanna hat company

http://www.youtube.com/watch?v=THZV5g1CNZM

Mon, 01/28/2013 - 15:21 | 3192228 ivana
ivana's picture

other prophet is preaching DJIA at aprox 3-4k.

It's quite possible  we will get both ... bring it on!

Mon, 01/28/2013 - 15:24 | 3192229 Dr. Engali
Dr. Engali's picture

Let's see...the Dow at 20,000 , gold at 35,000 silver at 2,300...I'll take it.

Mon, 01/28/2013 - 15:24 | 3192240 illyia
illyia's picture

Dow at 15,200 and Au at 12K.

Just sayin.

Mon, 01/28/2013 - 15:23 | 3192232 Cursive
Cursive's picture

In another 4 years, we'll be lucky if we can afford the bullets to survive a grocery run.

Mon, 01/28/2013 - 15:23 | 3192234 NoWayJose
NoWayJose's picture

Not a lot different than when you see a Goldman call.  Often the best thing to do is the opposite of what they say.  There is a real good chance that JPM is ready to book its profits, and possibly flip to the short side.

Mon, 01/28/2013 - 15:23 | 3192236 linniepar
linniepar's picture

What's the equation to turn Dow 20k into platinum coins?  Krugman, care to chime in?

Mon, 01/28/2013 - 15:23 | 3192237 Bam_Man
Bam_Man's picture

Put a 17x multiple on AAPL and its a $750 stock TODAY.

Except it's not.

Mon, 01/28/2013 - 15:27 | 3192251 Monedas
Monedas's picture

I think Bernanke is taunting us with what his plans are .... and he'll probably pull it off .... they know the sheep better than we ?

Mon, 01/28/2013 - 15:29 | 3192255 Meat Hammer
Meat Hammer's picture

Hmmm...how do we get the sheeple to pour money into the market so we can steal said money before we collapse said market?  

- Pick me, pick me!

Yes, you in the $4,000 suit with your hand up.

 - Just tell them they'll make a ton of money.  Who would question a banker?  It worked last time.

Brilliant.  You're Federal Reserve material.

 - Thank you, Uncle Benny

 

 

 

Mon, 01/28/2013 - 15:31 | 3192263 Idiocracy
Idiocracy's picture

SAT question:

 

Neocon Iraq tragedy/fiasco is to John Yoo 

as

Global fiat ponzi is to (fill in the blank)

 

Answer: Tom Lee

Mon, 01/28/2013 - 15:31 | 3192266 ronincap
ronincap's picture
  1. He should be sued
Mon, 01/28/2013 - 15:33 | 3192270 Smuckers
Smuckers's picture

Now if he made that claim while dancing Gangnam style, I might have taken him seriosry.

 

Mon, 01/28/2013 - 15:36 | 3192274 BigSkyBear
BigSkyBear's picture

Man people are dumb:

- Banksters and Pravda Speak, Sheeple listen (I guess it worked well for E.F. Hutton right?)

Mon, 01/28/2013 - 15:34 | 3192278 thismarketisrigged
thismarketisrigged's picture

if the fed continues to pump money like they are, whats stopping that from happening?

 

i dont think it will happen, nor do i want it to, because im hoping for a major market crash so all these thieves pay the price for there criminal acts, but right now it seems that the market will not stay in the red no matter how poor data we get/ earnings.

 

its really sickening how the stock market is not a real market anymore, but rather a giant casino. its a shame.

Mon, 01/28/2013 - 15:37 | 3192288 BigSkyBear
BigSkyBear's picture

NOTHING!

I mean we are here now, right?- O-Blame-A and his den of thieves are firmly entrenched.

dow 20K- here we come (by mid-term election?) think Seinfeld and Bizzaro World - we are all in it now.

Mon, 01/28/2013 - 15:35 | 3192279 The Gooch
The Gooch's picture

I thought it was too early in the week for humor?

 

Mon, 01/28/2013 - 15:35 | 3192281 Darksky
Darksky's picture

Topeka Capital @ 22,222?

Mon, 01/28/2013 - 15:37 | 3192285 williambanzai7
williambanzai7's picture

TOM HO HO LEE AND BEN TWINKIE BERNANKIE

Tue, 01/29/2013 - 02:21 | 3194123 Hobie
Hobie's picture

Two hos walk into a bank...

Mon, 01/28/2013 - 15:37 | 3192287 The worst trader
The worst trader's picture

And with that being said, Puts Puts Puts.

Mon, 01/28/2013 - 15:38 | 3192290 tecno242
tecno242's picture

Why not DOW 20k?

We are at S&P 1500 with no end in sight of ZIRP and endless monthly asset purchases.

We are essentially double dog daring the economy to ignite massive inflation.

Before inflation itself begins causing economic damages, stocks will go along for the inflationary boom along with commodities.  Things will appear great for a short period of relative time.

Commodities will eventually cause the economic pain to stocks in the end as the world of Fiat currency crumbles.

Mon, 01/28/2013 - 15:40 | 3192291 Dineroguru
Dineroguru's picture

ZH should ask Tommie Lee-- You know the drummer that was PamelalAndersens 'ex-squeeze for a more realistic and scientific forecast!

Mon, 01/28/2013 - 15:39 | 3192292 Super Broccoli
Super Broccoli's picture

oh if the guy from JPM says it's going to 20.000 then i should buy righto !!!! how lucky am i to have seen him on MSM, i'm gona make so much money with such privileged information !

 

yeah sure :-)

Mon, 01/28/2013 - 15:39 | 3192293 bcc
bcc's picture

Is it just me or is it interesting that the man said the S&P 500 would be at 1,450 by the end of 2012 and it ended at 1,426.19, or just 1.6% shy of where he forecasted?

To me, that's a good job on his part. And you whine because the market fell out in between...

Mon, 01/28/2013 - 18:19 | 3192812 Tyler Durden
Tyler Durden's picture

There was a typo. It should have said by the end of 2008.

Mon, 01/28/2013 - 15:40 | 3192294 moneybots
moneybots's picture

If he predicted 1,450 for the end of 2012, he only missed it by a few days.   The S&P closed at 1,462 on 1/02/13.

 

Maybe in a few months people will be laughing at his DOW 20,000 4 years from now, but that does not preclude the DOW being at 20,000 4 years from now.  In early 2009, how many would have laughed at the idea that the DOW would be a hundred points from 14,000 in less than 4 years later?

 

 

Mon, 01/28/2013 - 15:45 | 3192307 BigSkyBear
BigSkyBear's picture

You cannot outspend the machine(s) -

 

 

it's like going to vegas - only now, it is essentially 100% rigged.

 

You accept that fact that Vegas ultimately wins when you are on a road trip or at a bachelor party - however in a free Market, we all thought there was a spot for us at the table - the Lords have decreed it to all the Serfs - "No Soup for You!"

 

 

Mon, 01/28/2013 - 15:48 | 3192324 NeedleDickTheBu...
NeedleDickTheBugFucker's picture

I believe the prediction was 1,450 for the end of 2008.

Mon, 01/28/2013 - 15:58 | 3192351 Aurora Ex Machina
Aurora Ex Machina's picture

Thomas Lee, the chief equity strategist at JP Morgan Chase & Co., has gone on record twice in the past couple of months, saying that he believes that the S&P 500 will trade "much higher" by the end of 2008. How high? Lee is sticking to a target of 1,450 for the S&P 500, which would be about a 13% gain from today's levels.

 

 

One of the Tylers really needs an editor when s/he's had a few.

Mon, 01/28/2013 - 15:42 | 3192300 Motown
Motown's picture

As I read this article, I had to laugh ... the guy was right, but there was a little (sic) dip along the way.  He may be right about 2,400 or 2,500 in 4 more years as well, but here's hoping there's another little dip along the way so my puts on AMZN and CRM pay off.  I think we all know what Ben's response to another little dip would be, so that would be the time to load up on precious metals and miners.  Here's hoping anyway.

Mon, 01/28/2013 - 15:44 | 3192309 Super Broccoli
Super Broccoli's picture

wait, just got it, this is an auction !

 

30.000 here !

Mon, 01/28/2013 - 15:45 | 3192310 NeedleDickTheBu...
NeedleDickTheBugFucker's picture

historical "average" P/E multiple x peak EPS = FAIL.

I cannot decide what's worse - Tom Lee gets paid for creating this crap or that investors actually pay attention to it.

Please let him know that Jamie is no longer in the running for Treasury Secretary so there is no need for attempting to curry favor with the folks in Washington.

Mon, 01/28/2013 - 15:49 | 3192327 SheepDog-One
SheepDog-One's picture

OH you so craaazy Tom Ree!

Mon, 01/28/2013 - 15:50 | 3192332 Herdee
Herdee's picture

The guys a trader(christ,givem a break).He might be the type that's wrong 40% of the time and right 60%,yet still makes a comfortable living for himself. Just another traders opinion after gazing at his crystal-ball.Compare this guy to the weatherman on television who can be wrong half the time yet still keep his job on the tely.Maybe its good BC Big Bud?Who knows?(The Shadow knows but he's not talkin').How do half of these guys stare into the future?On the other hand,maybe he's taking a long shot that Central Banks around the world will have to allow a little inflation to get out of hand(actually a lot more than a little),so their debts stop looking so bad.Besides,seniors are the ones that vote and every corrupt yet smart politician knows that you have to keep paying them.All the bankers in the world preach the theory that it's easier for their gang to control inflation with higher interest rates than to control deflationary pressures.So, that translates into this trader having or considering a lot of far out options positions.The probability of being successful at those types of trades is very slim and high risk.But then again,he might be right and could be early into the inflationary trade.He might feel that we're coming into a bottom soon before it starts up.So don't count him out this time.The unfolding of untold trillions of cheap,crappy paper money onto the market by Central Banks has eventually got to cause inflation on a massive scale.It's just timing it and he might have clients taking on cheap far out options right now and/or legging into that trade theory.If he's right this time he'll make a ton of cheap paper and then convert it into gold.More QE still ahead?

Mon, 01/28/2013 - 15:52 | 3192342 razorthin
razorthin's picture

This moron just unwittingly cemented a 14K top.

Mon, 01/28/2013 - 16:01 | 3192360 buzzsaw99
buzzsaw99's picture

20K would be a nice place to sell. A mere 50% gain in four years. SWEET!

Mon, 01/28/2013 - 16:05 | 3192372 thismarketisrigged
thismarketisrigged's picture

and the final hour pump by the fed has begun. where will it close today? what a fucking joke. its the same process daily

Mon, 01/28/2013 - 16:10 | 3192384 WaEver
WaEver's picture

Why do the MSM give a tribune to these quacks ?
Why do people bother to watch this utter drivel ?
Why do I bother writing this post ?
Why do I ..... Well nevermind the MSM won

Mon, 01/28/2013 - 16:10 | 3192388 Downtoolong
Downtoolong's picture

His contract must read that he stays employed until he makes a correct call.

How do I get a job like that?

Mon, 01/28/2013 - 16:14 | 3192398 Scalaris
Scalaris's picture

Jeez Tom, it needs to breach the 19,755 resistance level first - duh.

 

/rolls eyes 

/drinks heavily

Mon, 01/28/2013 - 16:15 | 3192406 MFLTucson
MFLTucson's picture

Fuckin Clown!  

Mon, 01/28/2013 - 16:21 | 3192430 SmoothCoolSmoke
SmoothCoolSmoke's picture

I would not bet on this guy to predict what he had for dinner last night.

Mon, 01/28/2013 - 16:20 | 3192433 booboo
booboo's picture

It appears Abby Joseph Cohens face lift went wong.

Mon, 01/28/2013 - 16:21 | 3192436 pragmatic hobo
pragmatic hobo's picture

It seems to me like the propaganda campaign is on to off-load equity shares in the hands of the 99% as the 0.1% is looking to go cash.

Mon, 01/28/2013 - 16:28 | 3192456 Seasmoke
Seasmoke's picture

Collapsing Upwards.......Sure 20,000

Mon, 01/28/2013 - 16:29 | 3192466 Never One Roach
Never One Roach's picture

Last week was a bleak one at Thomson Reuters, the financial news and wire service giant. According to sources, as many as 3,000 people were let go, out of approximately 50,000 employees around the globe. Most of the layoffs came from the financial sector—the sales, training and analysts’ divisions—but some were on the editorial side.

 

 

http://observer.com/2013/01/through-the-wire-reuters-layoffs/

Mon, 01/28/2013 - 16:38 | 3192496 Peter Pan
Peter Pan's picture

As long as we are fixated on the Dow and the S&P 500  instead of people out of work and people working for slave wages, no real progress at attacking the root cause fo the malaise will be made.

You cannot improve the markets by tampering with the S&P 500  anymore than you can change the weather by tampering with the thermometer.

Tue, 01/29/2013 - 10:29 | 3194634 1eyedman
1eyedman's picture

dont be naive Peter, the modern economies dont need employees or consumers, just moar liquidity with which to financialize future 'earnings' from financialization practices

Mon, 01/28/2013 - 16:38 | 3192501 Dick Gozinya
Dick Gozinya's picture

So, he predicted that the S&P would be 1450 at the end of 2012? Wow. Three weeks into 2013, it is 1500.

Mon, 01/28/2013 - 17:10 | 3192612 SmoothCoolSmoke
SmoothCoolSmoke's picture

Yep, he made the winning jumpshot....after the buzzer.

Mon, 01/28/2013 - 17:15 | 3192632 Shizzmoney
Shizzmoney's picture

I can totally see the DOW going to 20K.......as the country riots and burns.....would make total sense.

Mon, 01/28/2013 - 17:20 | 3192646 orangegeek
orangegeek's picture

Tom Lee took a ruler and lined up the bottom of November 2012 with today and extrapolated up.

 

And for this skill, this fucker gets paid millions.

 

And Ben and Barry keep buying up stock with taxpayer dollars.

Mon, 01/28/2013 - 17:22 | 3192652 TeddyBear
TeddyBear's picture

 

 

Is he copying me?

I will stick to my DOW 24,000 call for 2016/2017 time.

last buy: COW

 

Mon, 01/28/2013 - 17:49 | 3192711 Cult of Criminality
Cult of Criminality's picture

All right.....Lever up and full risk on !

 

 

/SARC

Mon, 01/28/2013 - 17:52 | 3192720 Monedas
Monedas's picture

You don't get it .... Bernanke picks a clown to predict 20K DOW .... then fulfills his prophesy .... to undermine the confidence of the rational crowd .... see what happens when you don't play ball .... with the fed .... be a good Pavlovian mutt .... and salivate .... when the NYSE bell gongs .... or you get swatted on the snout .... with a rolled up WSJ !

Mon, 01/28/2013 - 17:59 | 3192749 Monedas
Monedas's picture

I buy the government silver rounds .... they're subsidized heavily .... the quality is excellent .... fabricated silver for 10% over spot .... ever checked out the mark up on Sugar Smacks .... 1000% .... I rest .... the rest of my case !

Mon, 01/28/2013 - 18:17 | 3192803 ReptilianSlaveMaster
ReptilianSlaveMaster's picture

Buying hand over fist right now.. I can't lose, god bless america

Mon, 01/28/2013 - 19:05 | 3192956 ZeroAvatar
ZeroAvatar's picture

Realistically, we'll be lucky if the DOW is BACK to 6000 (after the crash) by 2017.

Mon, 01/28/2013 - 19:24 | 3192996 Gimp
Gimp's picture

I think he is on the low side. Calling for 39,000 at the rate the Fed is pumping the PD's.

Mon, 01/28/2013 - 19:38 | 3193036 100pcDredge
100pcDredge's picture

20,000... what? platnum coins?

Mon, 01/28/2013 - 20:06 | 3193103 steelrules
steelrules's picture

Dow 20,000 there's a chance, question is what's Dow 20,000 worth in 1969 dollars?

Dow in 69 was 20 oz gold Dow today 8.5 oz gold, Dow 20,000 will be 2 oz gold, it's time to load up on gold.

Mon, 01/28/2013 - 20:19 | 3193172 GFORCE
GFORCE's picture

He could be right. The rotation from sovereigns into private assets has begun.

 

Once rates tick up this year, it will gather pace. 

Tue, 01/29/2013 - 00:49 | 3193984 godzila
godzila's picture

Err... is it just me or was he basically spot on with his previous prediction ?

Tue, 01/29/2013 - 02:59 | 3194144 Lord Of Finance
Lord Of Finance's picture

Wow! I was not expecting the bond market to finally follow the real economy, and go over the cliff until late 2015. Thank you Mr. Lee, now I know . . .

  

   . . . it will happen much sooner!!  

 

 

 

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