David Kostin has been a regular in financial media for many years (I’ve been writing about him for more than a decade) but he’s decided to retire. The Goldman Sachs Chief US Equity Strategist last made major headlines around this time last year when he predicted 3% annualized returns in the S&P 500 for the coming decade, or just 1% in real terms.
That call hasn’t gotten off to a good start with the S&P 500 up nearly 13% this year. But who is to say if he’s wrong, he could just be early. The 13% annualized returns over the past decade will be much tougher to repeat with high valuations and de-globalization.
Goldman Sachs has appointed Ben Snider as new Chief US Equity Strategist.
This article was written by Adam Button at investinglive.com.