Barry Ritholtz in Business Week

One of my favorite bloggers, Barry Ritholtz, is profiled in Business Week. I just wish he weren’t so pessimistic:

Why is he so glum? For starters, globalization and pricing pressures will hurt corporate profitability in 2006, says Ritholtz, who now runs independent research company Ritholtz Research and hedge fund Ritholtz Capital Partners.
“We’ve been in a stimulus-driven, real-estate-dependent economy for some time now,” he says. “As inflation goes higher, and interest rates with it, our consumer-spending binge may slow dramatically.”
And the good news? Oil prices will fall, predicts the market watcher, who’s now a celebrity blogger. But beyond that, he says foreign stock markets will enjoy most of the action in 2006.

He’s calling for the S&P 500 to go to 880. Yikes!

Posted by on January 5th, 2006 at 12:26 pm


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