When picking stocks, you might build confidence that a company’s financial condition and business strategy are in a position to compete effectively over the next decade. That can carry you through a bad year.
As we head to a new year, predictions for financial markets and stock picks for 2020 are flowing. It’s also time for annual mea culpas, as stock pickers admit their failures — and, of course, brag about their successes.
We have already listed the favorite large-cap, mid-cap and small-cap stock picks among Wall Street analysts for 2020. Let’s see how their selections for 2019 performed. The consensus price target wasn’t met, but that $76 takeout price was a 73% premium from Anadarko’s share price on Dec. 31. So this one is in the “win” column for the analysts.Including Anadarko, eight of the 20 large-cap picks matched or beat the return of the S&P 500 in 2019. So 12 underperformed the index, with six having negative returns. Eleven of the 20 returned at least 10%.Eight of the 20 mid-cap picks beat the 25% return of the S&P 400 Mid Cap Index during 2019 through Dec. 16.
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