- Global Selloff From Dubai Shows Signs of Winding Down
- Dubai Stock Selloff May Bring Buying Opportunity
- Tiger Woods Out of Hospital After Accident
- Dubai Fallout Is a Correction, Not Another Crisis: El-Erian
- Dubai's Debt Woes Signal New Era for Creditors
- Get Paid Six Figures to Wear a T-Shirt?
- The World's Biggest Debtor Nations
- Five Tips for Buying a Foreclosed Home
- Slideshow: Fantasy Christmas Gifts 2009
- U.S. Stocks Fall on Dubai Worries
- Black Friday at Best Buy
- Strategists on Dubai: Avoid 'Rash Moves' Now
- Longer Lines, Fuller Carts This Black Friday
- Dubai Stock Market Fear Has 'Legs': Dennis Gartman
- Obama's Emission Reduction Pledge Paints Future for Autos
- Is Super Bowl Halftime Act Too Old?
- Surprising Options Trades in TiVo Shares
- EA Sports Hopes to Pump Up Sales Through Pop-Up Locations
MOST SHARED
- Tiger Woods Out of Hospital After Accident
- Get Paid Six Figures to Wear a T-Shirt?
- 8 Retailers that Gain During the Holidays
- Dubai Spooks Investors But May Bring Buying Opportunity
- Finding the Holiday's Best Buys
- Global Selloff From Dubai Woes Shows Signs of Winding Down
- Dubai Fallout Is a Correction, Not Another Crisis: El-Erian
- Longer Lines, Fuller Carts This Black Friday
- The Good Entrepreneur Winner
- Banks Play Down Dubai Exposure, Investors Still Wary
Text Size 
Investors should prepare for multiple bottoms in the economic cycle over then next year, as financial companies on both sides of the Atlantic could easily revert to missing earnings expectations in 2010, Simon Goodfellow, head of European equity strategy research at ING Wholesale Banking, told CNBC Friday.
"Most of those forecasts were put in place before some very late changes to the accounting rules," he told "Squawk Box Europe".
More positive profit surprises could still be coming from major US banks in 12 months, Goodfellow said, but he added his is "equally prepared to believe they will go back to surprising to the downside sometime in 2010."
"We are going to get a much more bumpy inventory cycle than people seem to think," he said "I think it is going to have multiple bottoms. That’s going to be quite a drag on market performance."
And while the current reporting period is off to a good start, it will "end with a whimper," he added.
Print
Email
- These four sectors will be the next to lead the market.
- Zhu Zhu Pets are this year's must-have toy, fetching $40 or more on eBay.
- From the why-didn’t-I-think-of-that file, we present Jason Sadler, a man whose job is wearing T-shirts.
- It may be the most unusual guide to business you'll read.
- Shopping for a gadget hound? The choices can be baffling. Here are a few that should be a hit.
- "The Who" will be the halftime act for Super Bowl XLIV on Feb. 7 in Miami. Is the NFL behind the times?
Data is a real-time snapshot *Data is delayed at least 15 minutes