Wall Street strategists actually called 2023 correctly — apart from these seven stocks

As Wall Street strategists roll out their 2024 forecasts, they’ve been getting plenty of side-eye for largely steering their clients wrong on where stocks would end up in 2023.

But Jim Bianco, president and macro strategist at Bianco Research, has crept to their defense, arguing that they weren’t 100% off base. “So, yes, strategists were wrong about stock returns in 2023. But the heavy concentration of the ‘Magnificent Seven’ stocks made it a unique year,” he said in a thread on X late Tuesday.

Zeroing…