This is how some moron analysts fool investors - he should be fired

First of all this guy made an terrible call for 2008 and second of all to call the markets cheap and give false statistic evaluations should be a criminal verdict by now as this kind of morons help to destroy tril. of people hard earned money. In principal follow the rule that a bank which bankrupted itself is not worth listening to and UBS belongs to this majority. why should anyone at Merrill get a bonus as they were bankrupt and only the stupid takeover of BOA and massive taxpayers aid helped them to survive- having a job is the maximum bonus anyone on wallstreet should get. As they lost more money in one year as they have made in decades - so all prior bonuses were stolen from todays taxpayers money. Politicians and governments should be very decivive about this bonus event as they spend so generously taxpayers money to greedy idiots who just faked profits on paper to pay themselves out insane bonuses. There are exceptional talents out there which deserves the money but that is less than 5% off the crowd. Another 10-20 % may have deserved a good pay but not what they got paid since clients get not what they are promised most of the time - its close to snake oil salesmanship what wallstreet delivers . I say that since I worked there myself and know how the system works - the worst are the so called management people who even in good times managed to destroy hundreds of mil. for stupid idea's and still got promotions and handsome paychecks for destroying stockowners money.

Excerpt
Stocks to Rise in ’09, UBS Says; S&P 500 May Gain 53% (Update1)

By Alexis Xydias

Dec. 3 (Bloomberg) -- Global stocks will withstand a “full-blown” recession and surge in 2009 as cheap valuations and efforts by governments to restore confidence in the financial system lure investors back to equities, UBS AG said.

The Standard & Poor’s 500 Index, which tumbled 42 percent to 848.81 this year, may rally 53 percent to 1,300 by the end of 2009, David Bianco wrote in a note dated yesterday. The New York-based strategist, who a year ago predicted a 2008 advance of 16 percent for the S&P 500, is now forecasting a gain that would exceed the index’s best annual performance on record.

The U.K.’s FTSE 100 Index may increase 41 percent from yesterday’s close to 5,800 in 2009, while the FTSEurofirst 300 Index may climb 25 percent from current levels, Zurich-based UBS said in separate notes.

“The consensus outlook for 2009 is a full year of gloom,” Bianco, 33, wrote in his 2009 market outlook. “We believe 2009 will bring signs of a dawn in confidence with the first faint light appearing earlier than most investors expect.”

The S&P 500 climbed 13 percent from an 11-year low on Nov. 20 as the government agreed to protect New York-based Citigroup Inc. from further losses and the Federal Reserve stepped up efforts to unfreeze credit markets. This year’s slump gives investors a chance to buy the biggest “growth” stocks in the S&P 500 at “deep discounts to intrinsic value,” according to Bianco, who recommends energy, technology and industrial shares.

Cheaper Valuations

The benchmark for U.S. equities is valued at 11.3 times the estimated earnings of its 500 companies, data compiled by Bloomberg show. The S&P 500 on average over the past five years has traded at 19.5 times the reported profit of its companies.

The U.K.’s FTSE 100, which is currently valued at 7.4 times profit, may climb to 5,800 next year, based on a price-earnings multiple of 13, strategist Gareth Evans wrote in a separate note. Price-earnings valuations may climb to lift the FTSEurofirst 300 Index 25 percent from current levels, a team of London-based strategists led by Nick Nelson forecast.

European per-share earnings will still tumble 25 percent as the euro-zone economy contracts 0.9 percent, they said.

“The macroeconomic and corporate profit outlook for 2009 is horrible,” Nelson’s team wrote. “But share prices have moved well ahead of this and are now pricing in a multi-year recession/depression.”

The brokerage also forecast gains for Latin American markets and recommended Brazilian equities.