Over the weekend, Deutsche Bank’s cheerful house bull, equity strategist David Bianco (not to be confused with DB’s brand new bear, chief economist Joe Lavorgna), released a note explaining why one should ignore everything that does not fit a bullish narrative, and explained that he expects the S&P to hit 2,500 by 2018 (with one warning: “We think the S&P 500 can reach 2500 before suffering a 20%+ bear market decline. However, the next bear market could erase all further gains from this cycle. This is a significant risk when EPS growth is slow and yet the PE is above average.”)
We won’t spend any time on any forecast that pretends to have visibility into what happens over two and a half years from now, but instead we found something else actually useful in his report: Deutsche Bank’s massive market atlas showing the “historical context” of virtually every move since 1900.
Please click for the full size version.
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