- Retailers Brace for Black Friday With Crowd Control
- Commercial Real Estate Near Disaster: Fund Manager
- Motorola Mulls Sale of Home-Networks Unit: Report
- This Town Will Pay YOU $10,000 to Buy a House
- Billionaire Paulson Raises Cadbury Stake Again
- Bear Stearns Fund Manager—Before His Day in Court
- Commentary: Falling Far Short of Health Care Reform
- Treasury Report Says $209 Billion Left in TARP Funds
- AIG CEO Ready to Quit over Pay Constraints: Report
- Wal-Mart To Continue Retail Success: Analysts
- Financials Lead Dow to Strong November Start
- Markets Salute the Troops on Veteran's Day
- Bear Stearns Fund Manager - Before His Day in Court
- Opposing Views on Coca-Cola Price Target
- How To Play China's 'Amazing' Run: Analysts
- Could Going Solo Ruin Your Career?
- Commercial Real Estate Best Place For Money: Strategist
- Schork Oil Outlook: Nat Gas Bulls Didn’t Stand A Chance
MOST SHARED
- China Signals That It May Allow Currency to Rise Against Dollar
- Website Launches That Gives Free Access to Concerts
- Retailers Brace for Black Friday With Steps to Control Crowds
- Unemployment May Cause Loan Defaults in US: Zoellick
- This Town Will Pay YOU $10,000 to Buy a House
- Markets Salute the Troops on Veteran's Day
- Housing in Focus
- Dodd: Financial Reform Bill Is Open for 'Discussion'
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
- Bernard and Ruth Madoff's personal possessions will be auctioned this weekend. Click ahead to see.
- How the Lord’s Prayer would read if Goldman Sachs’ Lloyd Blankfein were substituted for you-know-who.
- If you are lucky enough to have money and the time, this is a great time to see America, says CNBC's Jane Wells.
- An Italian cashmere maker aims to make profits while creating ideal conditions for his workers.
- The real result of health care reform will be bloated government and higher deficits, says Larry Kudlow.
- Vote and suggest your own, and remember--there's a fine line between a hero and a zero.
Data is a real-time snapshot *Data is delayed at least 15 minutes