Tracking 2009 S&P Forecast Cuts

John Mauldin has a useful slide of the cuts to analyst S&P 500 forecasts for 2009. They’re coming down faster than in any six month period I’ve seen, and there are more cuts coming:



  1. How can it be $48.52? Doesn't that imply almost a 20x multiple on '09E? Seems high (the multiple, meaning the consensus forecast seems low).

  2. Is Bloomberg earnings outlook that far off? It's projecting about $89 in S&P500 earnings.