Wall Street was once again, predictably, caught completely by surprise and off guard by the ongoing plunge in the market.
The chart below shows the point delta between the average sellside consensus S&P500 forecast and the actual level of the S&P500. Clearly, the delta has never been greater.
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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