At Extreme Investor Network, we always strive to bring you the latest and most valuable information in the world of finance. Today, we have some exciting news to share about a top strategist at JPMorgan who is making a career move that has caught the attention of many in the market.
Marko Kolanovic, who served as chief global markets strategist and co-head of global research at JPMorgan, is stepping down from his position to explore new opportunities. This decision comes after Kolanovic gained recognition for accurately predicting a stock market rebound during the Covid-19 pandemic. However, he has been consistently bearish over the past two years as the market has continued to climb to new highs.
In Kolanovic’s place, Hussein Malik will take over as the sole head of global research, while Dubravko Lakos-Bujas will assume the role of chief markets strategist. Interestingly, JPMorgan’s year-end prediction for the S&P 500 stands at 4,200, which is lower than any other major firm in the CNBC Market Strategist Survey, where the lowest prediction is 5,200. This forecast is officially credited to Lakos-Bujas, who previously worked under Kolanovic.
As of now, the S&P 500 has shown remarkable growth, up more than 15% this year and closing above 5,500 on Tuesday. This news of Kolanovic’s departure was first reported by Bloomberg News and has sparked interest and speculation in the financial industry.
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