Wall Street nailed earnings but missed the bear market

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4 min read . Updated: 25 Dec 2022, 05:25 PM IST James Mackintosh, The Wall Street Journal

The Wall Street entrance to the New York Stock Exchange (NYSE) is seen in New York City (REUTERS) — The Wall Street entrance to the New York Stock Exchange (NYSE) is seen in New York City (REUTERS)

It is a reminder of the perils of forecasting markets: You can be exactly right and dead wrong at the same time

If I told you that a group of really smart people on Wall Street were able to predict exactly how much money America’s biggest companies would make a year from now, you might think they could tell us where the stock market would go.