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JPM's Tom Lee From May 2, 2011: "I Am Raising My 2011 S&P Target To 1475"
JP Morgan's Tom Lee has been getting a lot of airtime lately. We hope this ends soon, as anyone who has listened to this person in the past has consistently lost money. Here is Tom Lee from May 2, 2011 explaining the reasons for hiking his 2011 year-end S&P forecast to 1475. As a reminder, the year ended at 1250, or 16% away. In any other job, this would be ground for termination, and terminal discrediting within the industry. But apparently not on sell-side Wall Street, where being wrong constantly and consistently merely leads to ever bigger bonuses. It also allows comedy financial channels to plug empty airtime with idiotic soundbites.
We have one question for the so-called regulators: shouldn't all JPM strategists disclose, when they come on TV, that their hedge fund (the notorious CIO) has a massive long position which the firm is trying to unwind?
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LOL!
Yer fired...get out
Sure, Ill continue to listen to him!
Just hasn't been the same guy since Pamela Anderson dumpred him.
Not to be racist, but this dude's arm isn't as big as Tommy's "thingamajig"
He is earning his keep.
His job is to keep sheeple buying through the top and into the distribution.
Is this guy trolling ?
Nope, sad to say, that is his job.
A whole career being a Sock puppet. He'll never work in anything else i would guess, what would he be qualified for other than lying on camera to make sure Chinese investors are happy that someone Asian is lying to them.
ROR!
Tommy Lee is JPM's Boy Toy. Has to be the Biggest Asshole on the street.
Dumpred! Classic!
wow you must really hate this guy Tyler. Might be a bit harsh tho - if the powers that be hadn't manufactured a crisis to get rid of Mr BungaBunga he might not have been far off. Either way, even Einhorn gets it wrong sometimes. I still can't figure out why Italy went pear shaped last year. I think the media said it was just a bit of argy bargy amongst the pollies.
Confucious say man who sit alone in office guaranteed to be smartest guy in room.
Not Fired,...please. These guys are great indicators since they're paid to talk up the books of their benefactors. I call it the "fade the main-stream-media shills" indicator. these guys are very good at calling tops and bottoms the wrong way. You just have to remember that what they are doing is trying to get you to buy what they are selling, or vice-versa.
It's a ponzi... what do you guys expect? There always was a need for good sales people like Tom Leee on WH0RE STREET but 2001 and then 2008 changed everything on a fundamental level. It really pushed the most vile filth to rise to the top like the scum they are.
Here's a little hint. They want you to own "stocks" but they don't want you to own gold. You can figure out which you should "own". Case in point, today's article in the Whore Street Journal entitled, "How much gold do investors need? Zero should suffice." You must understand that 2008 changed everything!!
The game is over... now the real fireworks begin!!
It's funny. You can tell a lot by looking at a person's eyes. He's got vacant look that all of Ermerca's "leaders" have. That Hilary "I'm a useless POD" blank stare. Muppet indeed.
Can someone please invent drag and drop "Insert Clown nose" video editing software...
I took all the money I made using Tom Lee's advise and sent it to Barry's reelection fund.
You should too!
Yes, Tom Lee, the same Tom Lee who's arguing that May's NFP print was the best in a decade. Tom Lee lives in a world where down is up and up is down. A permabull suffering from a permanent case of confirmation bias.
Tom Lee. Sock puppet to the power's that be.
Sad that a whole life's efforts can be summarized in a sentence.
His entire argument is that the May seasonal adjustment subtracted 718K "jobs" from the unadjusted number. Which it did and we warned it would in April. What you won't hear a peep out of him on is that the January-April seasonal adjustment added 4,458K statistical "jobs" - jobs that do not exist. But why bother with details when one's prop trading desk has a massive position which loses $200 million every time the IG9 moves one basis point wider, in response to a deteriorating economy...
Indicatively, we explicitly said this in April:
Sure enough, it did, and yes, just before the FOMC meeting.
Don't forget the classic "we think housing is coming back" mantra they continue to spew... this video should be saved as a must watch!!
ZH has jumped the shark... LOL!
/sarc
At 1:05 TL tells us that we should buy stocks because we (US) caught Bin Laden. Oh to live in an ivory tower, it must just be something special.
good, keep bringing these predictions up; these idiots want to go on CNBS as wise oracles
Are we expecting something different from MSM S & M ?
http://www.youtube.com/watch?v=-HyTP9sP_aI Slime TV
TIME TO EXPOSE AND FIRE ALL THESE TIME WASTERS PERIOD....
I think we did. Have you seen CNBC's ratings lately?
Did he graduate from the Chinese school of head in sand and fudge all number finance?
That's a required course for all chinese businessmen.
I love that guy when he sings "Tiny Bubbles" because that is Greenspan's and Bernanke's favorite!
Bwahahahahahahaha!!!!! I bet that went right over most people's
heads. Anyway, here he is.....before he needed the glasses:-)
http://www.youtube.com/watch?v=mlCiDEXuxxA&feature=related
QE 3 not priced in yet. Herding the muppets- happens soon. This dude is a stopped clock. Sooner or later, he'll be right once.
This is hardly news, is it ? A professional pundit being wrong, I mean. The more skilled ones know that they're going to be wrong, so they either forecast a level, or a direction by a given time frame. Only the bad ones forecast a level with a timeframe, since the probability of being right is effectively zero.
Is Larry Kudlow still sticking by his "50,000 Dow bet"?
Him and Barons
Wait until those idiots print a fuck tonne of money.
No word on how high FB will go? /snark
What's the trade value of lint right now?
hey if the Germans relent on ecb printing, he will likely be right. All bets are they wont...but if they do...watch the market go crazy
They will print. When faced with the choice of devestation now or print now and TOTAL devestation later, they will choose the latter. It's just what humans do. So.....just do it they will.
Tom Lee has a 1430 target for this year end. One of his reasons was the following:
"The J.P. Morgan base case is for the Euro crisis to abate by 2H12 with Europe potentially exiting recession by mid-year. Historically, equities have bottomed 6- 9 months ahead of a return to growth."
LOL
Speaking of comedy financial channels, CNBC is in "all QE3 all the time" mode. Resident clown-in-chief Jim Cramer revealed today that he consults with Turbo Tax Timmy on a regular basis and his been urging to take the same advice issued yesterday by former Treasury Clown Treasurer Larry Summers to borrow, borrow, borrow while interest rates are low.
If it weren't for Rick Santelli and Gary Kaminski, I wouldn't bother with CNBC at all. The sound is usually off as it is.
look at what the jackass said ... on Jun. 1, 2012, 4:57 PM
"This Was The Best May Jobs Report Since The Year 2000*" Tom Leehttp://www.businessinsider.com/jpmorgans-tom-lee-this-was-the-best-may-jobs-report-since-the-year-2000-2012-6#ixzz1wq26xuk4
He cant be serious surely. Maybe he justs wants get on tv.
a double down fool
jb
All these dumbass analysts get on CNBC and say stocks are cheap using their earnings estimates and historical multiples. Some UBS jackass just claimed stocks are trading at 11x.
I have yet to see any CBS anchor challenge the analyst.
1. How can you have confidence in your earnings numbers witg Eruope in a depression, China in a hard landing, the US heading for recession due to the fiscal cliff and USD killing exports.
2. What multiple should you use knowing that corporate profits as a % of GDP is at an all time high and everytime it has gotten this high corporate profit growth over the next 5 years has been 0%. Historicallly youve paid 13x-15x For 3%-4% Real GDP growth, 6%-8% nominal gdp growth and corporate profits as a % of GDP going from 5% to 8% = 12%-16% earnings growth. If real GDP growth is going to be 2%, nominal is 3% and corporate profiys as a % of gdp decline maybe you pay 6x-8x for 0% earnings growth.
Anyone know how to send this idea to someone at CNBC so they can ask the next analyst why the mkt shouldnt trade at 750.
He is a smooth talking, CTRL P extrapolator of the last 5 days of trading data. What an idiot. Why doesn't JPM fire him and pay his salary to the soup kitchen.
I just stepped on an ant. It makes me feel bad about myself. I will hence sell all my stocks. Good bye!
Comedy Financial Channels? Where can I find one of those. Oh, I get it. They are all comedy channels.
"P Morgan's Tom Lee has been getting a lot of airtime lately. We hope this ends soon, as anyone who has listened to this person in the past has consistently lost money."
What does that have to do with anything? The proven to be clueless run this entire country's economic policies.
He was just on CNBC, I had the sound off. Almost all of these guys are wrong everytime, it is comical. Listening to almost anyone on CNBC or Bloomberg is a mistake, its only occasionally they get someone with integrity like Jimmy Rogers. Extend and pretend, we certainly know that JPMorgan plays a substantial role in that game as does Goldman - these guys are the two main fronts for the Fed. This is why in the end JP Morgan will not fail and will not be severaly penalized, if anything a slap on the wrist. There is no reason to think that the investigations will find the same situation as they found at Lehmen, where everybody walked away free and extremely wealthy!
All of the TBTFs should be broken apart into smaller pieces and then certain pieces and parts eradicated completely. The simple answer is to Glass-Stegall back into force, but that will not happen unless we are willing to break international treaties that say we won't put burdensome regulations on the financial services industry - in fact, what these treaties say is that the financial services industry is above and beyond the law. Clinton signed the US committment to this back in 98 or 99, the entire Eurozone is part of the same agreement as is the IMF, World Bank and World Trade Organization - all criminal organizations.
Larry Summers, who is apparently making the rounds, was a big part of that wonderful agreement making it legal for banks to perform illegal activities as long as they were making money. Basically, if you make money then you cannot be a criminal, it is that simple. This shows the mindset, its all about the size of your wallet, nothing else matters. Its a sickening state of affairs for the country and the world.
Hopefully this shit can't last much longer before it implodes and we can start to rebuild systems that work for the people and not the wealthiest 1%, this will be our last opportunity to implement such changes. It won't be easy but it must be done or we lose our sovereignty and whatever freedoms we have left! It really is a sorry state of affairs, the lying is at all time high levels - nothing can be believed as everything is a manipulation.
Weird shit.
yepp ... because in a totalitarian society ... lies are truth and truth are lies.
welcome to your worst rightwing bizarro world nightmare.
It is in fact wierd shit ... and there is so much more than just in the financial area. Yes, going back to a real economy and the rule of law would ensure a solid future for the country. Glass-Steagall is a given
The issue that I see is that there does not appear to be a way to stuff the derivatives bubble back in the bottle. Any attempt would immediately wipe out every single counterparty.
So we sit, with the banks holding their fingers on the detonator, waiting for the right time to blow up the entire financial world.
Without real money we go nowhere but down. For that to happen you have to get rid of the current bunch of moneylenders....and if you think that is going to be as easy as voting in the right guy, think again.
Sadly, most humans are followers and easily manipulated into following a path that is self destructive. They will not rise up until there is nothing left...no hope - just despair.
I'm not sure, but I would put us around 280AD in the Roman timeline. Cant wait for the barbarians (or are they already here?).
Not taking aim at Rogers but why would anyone with integrity appear on this network? It has been a laughingstock (no pun intended) for years now. Pure propaganda for the uncritical, unthinking financially illiterate masses and perhaps the most dangerous because unlike the regular mainstream infotainment it is constantly trying to sell absolute dreck inevitably designed to blow up in the faces of the rubes who fall for it time and time again.
Lucy van Pelt: Hey Charlie Brown, wanna kick this football?
Charlie Brown (bruised and grass stained): Here I come! (Because I'm definitely positive she's not going to pull it away at the last second this time.)
Sigh.
"It won't be easy but it must be done or we lose our sovereignty and whatever freedoms we have left!"
And since the vast majority of people in the world don't have a clue about the games being played at their expense, I highly doubt that it will be done.
"Listening to almost anyone on CNBC or Bloomberg is a mistake"
Just curious, is Larry Kudlow still talking about "green shoots."
OK, so anyone who can read an ounce of body language can tell that Tom is very uncomfortablet with the words he is saying. The easiest assumption is that he does not believe them himself, and was probably put in the position where he had to lie for those that give him a paycheck.
I feel sorry for Tom Lee. Hopefully the money he receives makes up for his guilty conscience.
Yes I'm sure this is the first time he's lied...
Never feel sorry for people with enough education and money to enable them to get another job, even in today's crappy economy.
He choses, every day, to sell out.
And while I'm here - howcome any of you guys even *watch* CNBC? Really. I don't have to watch it, and don't (or any other TV), because the real news is here on ZH, which deconstructs CNBC daily.
ZH is probably a lot more entertaining, to boot.
http://bbs.cnhedge.com/thread-6967-1-1.html
It's pretty clear actually, they want bailouts without cuts to thier lifestyle. Which wont happen. So whoever they vote for wont matter as they are both pro euro(read: pro free money).
Well there's still time for him to be right....
Why waste the time and space on this nobody today? Too much else going on.
I hope you all are taking your heavy metal detox. Especially anyone on the West coast. Sushi? Better think again.
Chlorella, Apple Pectin, Sodium Alginate, Bentonite clay, Zeolite or Sweet PDZ (much cheaper). These are some of the best.
Stop reading about this douche bag and get busy helping your family deal with the ongoing radiation poisoning building in our systems daily.
Our new favorite word: Chelation
Agreed....do you have a link you can provide to the info you are using?
Ok lets put an image on it: http://img407.imageshack.us/img407/3069/youcanhazchelashun.png
Wuck Fall St. and the horses they rode in on.
Tom Lee = Idiot.
Now that's a fuckin Muppet.
JPM = Lehman. Bye Bye Jamie.
Please, everyone of these dopes been following same bullshit game paln for the last 3 years.
Now is when stocks are cheap and H2 2012 growth going to be much stronger (this year he predicated that on Romney winning).
Dude makes 7 figures a year, for essentially a teleprompters job.
I don't understand how a guy like Lee, Lavorgna or Jospeh Cohen, have jobs. What value do the add?
They are salesmen. Nothing to be ashamed of, yet they are, so they call themselves analysts, economists, etc. Did you expect truth in advertising?
They have a lot to be ashamed about. They are completely conflicted, and nothing but PR reps for their own personal bonuses.
Everyone knows Broker/Dealers only work when people are buying - "long and strong". Advising the public to so wrapped in the language of expertize and professional credentials, is shameful.
It is funny, when a doctor or lawyer gives one bad advise they can be sued for negligence. Why are there NO consequences for analysts/strategists and guys like Tom Lee?
How on the one hand can the claim to be "professionals" and on the other hand be wrong more than 50% of the time?
They are salesmen. The job is to sell, not to be right.
Should a saleswoman at Saks be ashamed when they tell a fat ,ugly, wench that the new dress makes her look beautiful? Or is she just doing her job?
He was right last year at least for a little while. He said during the panic that things would be ok and not to sell in October.
The whole idea of giving a year end target for the S&P500 is pointless anyway. It's not possible to predict these things.
what a moron, if the ppt would have just done it's job a little better!
Is it just me, or does this guy look a lot like Tyler's deer in the headlights shot?
Green shootz...bitchez.
Sad part is, I bet this guy has an education I'd never be able to afford and qualify for, probably Harvard.
And even I said, at the time I heard this, that he's a fucking idiot.*
*of course, he may of been paid to say it. So there.
Look at that face
Clearly Little Thomas Lee has a small coq
I'd say 1.475 inches when errect
All hood, no shaft!!
Shills exposed, shills exploded.
#WINNING!
Yes this is the same Thomas Lee who ALSO said near THIS YEARS HIGH back in march "it is ridiculous to be bearish"
I checked out his Bio, and he went to Wharton, and promptly become MD for one outfit after another. Dozens of them. [Sagan]maybe BILLIONS[/Sagan]
No no, not a Doc MD, Managing Director. Real MD's are required to know their arse from a hole in the ground.
"Housing we think is going to turn around." REALLY TOM? WHEN IN THE YEAR 2245?
THIS DIPSHIT GETS PAID MILLIONS FOR WHAT? WHAT IS HIS RESEARCH BASED ON? DO ANY OF THESE MOTHERFUCKERS WRITE FOR LOOPS OR UNDERSTAND HOW MAKE INFERENCES FROM DATA? IS "ANALYSIS" JUST FUMBLING AROUND ON EXCEL AND READING SOME MEMOS FROM MONKEYS? DOES ANYONE AT A BIG BANK KNOW HOW TO THINK? MAYBE THEIR BRAINS GETS HEAVY DOPAMINE REWARDS FOR MAKING IDIOTIC CONCLUSIONS. THIS CLIP IS AWESOME. I WANT TO MAKE A WEBSITE (OTHER THAN ZERO HEDGE) THAT HOLDS THESE FUCKS ACCOUNTABLE. WWW.WALLSTJERKOFFSTALK.COM.......WHERE THE FUCK IS ABBY JOSEPH COHEN? HOW ARE THESE PEOPLE EATING?
You mean JPM is losing money? Hand over fist? Poor baby! May I suggest a rapid exit!?