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Home»Finance»One of the biggest bears in this bull market is leaving JPMorgan
Finance

One of the biggest bears in this bull market is leaving JPMorgan

July 4, 2024No Comments1 Min Read
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One of the biggest bears in this bull market is leaving JPMorgan
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JPMorgan’s Marko Kolanovic.

Crystal Mercedes | CNBC

A high strategist at JPMorgan who was caught offside by the inventory market rally is quitting the funding agency.

Marko Kolanovic, who served as chief world markets strategist and co-head of worldwide analysis, is leaving the financial institution to discover different alternatives, in keeping with a supply conversant in the interior announcement.

In his place, Hussein Malik will grow to be the only head of worldwide analysis, and Dubravko Lakos-Bujas will function chief markets strategist.

Kolanovic rose to prominence amongst market watchers for appropriately predicting a inventory market rebound in the course of the Covid-19 pandemic. However he has been persistently bearish over the previous two years because the market has reached new highs.

JPMorgan’s present year-end prediction for the S&P 500 is 4,200, whereas no different main agency within the CNBC Market Strategist Survey is under 5,200. JPMorgan’s prediction is formally credited to Lakos-Bujas, who labored beneath Kolanovic.

The S&P 500 is up greater than 15% this yr and closed above 5,500 on Tuesday.

Information of Kolanovic’s departure was first reported by Bloomberg Information.

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Bears Biggest Bull JPMorgan leaving market
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