Wall Street Strategist David Bianco
David Bianco
Chief US Equity Strategist · Coverage 2009–2022 · Moved to a CIO role in 2022
AnaChart's record of David Bianco's S&P 500 year-end price targets at Deutsche Bank covers 12 published targets and revisions across 10 closed forecast years. His final-year hit rate within ±3% of the actual close is 20% — 2 of 10 years. Closest call: 2016, target 2,250 vs. actual 2,239. Largest miss: 2022, target 5,000 vs. actual 3,840.
Bianco was Deutsche Bank's Chief US Equity Strategist before moving into a chief investment officer role at DWS, the bank's asset management arm, where he now leads the Americas investment view. His sharpest call was 2016, when a 2,250 target landed within 0.5% of a 2,239 close, his single best result. His starting targets in 2009, 2017, and 2019 tended to misjudge the direction of the year. His final tracked call, a 5,000 target for 2022, overshot a 3,840 close by 30%, the widest miss in his record. Every call is plotted on the chart below.
S&P 500 Year-End Targets — Full History
Gray line: S&P 500 end-of-day closing price. Blue line: David Bianco's published S&P 500 price targets, each plotted at issuance date. Both lines end at retirement.
Year-by-Year Forecast Performance
| Year | Final Target | Year-End Actual | % Off | Result |
|---|---|---|---|---|
| 2022 | 5,000 | 3,840 | +30.2% | Miss |
| 2019 | 2,850 | 3,231 | −11.8% | Miss |
| 2017 | 2,350 | 2,674 | −12.1% | Miss |
| 2016 | 2,250 | 2,239 | +0.5% | Hit |
| 2015 | 2,000 | 2,044 | −2.2% | Hit |
| 2014 | 1,850 | 2,059 | −10.2% | Miss |
| 2013 | 1,750 | 1,848 | −5.3% | Miss |
| 2011 | 1,400 | 1,258 | +11.3% | Miss |
| 2010 | 1,350 | 1,258 | +7.3% | Miss |
| 2009 | 1,300 | 1,115 | +16.6% | Miss |
Show 7 more years (2009–2016) Free account · no credit card
Frequently Asked Questions
Is David Bianco still Deutsche Bank's Chief US Equity Strategist?
No. Bianco moved out of the sell-side strategist role into a chief investment officer position at DWS, Deutsche Bank's asset management arm, where he leads the Americas investment view. AnaChart's tracked record of his published S&P 500 year-end targets ends with his 2022 call.
What was David Bianco's final S&P 500 target?
The last S&P 500 year-end target AnaChart tracked for Bianco was 5,000 for 2022, set on December 1, 2021. The index closed that year at 3,840, making it the widest miss in his record.
How accurate were David Bianco's S&P 500 forecasts?
His final target landed within ±3% of the actual year-end close in 2 of his 10 closed forecast years, a 20% hit rate. His best call was 2016, within 0.5%. His widest miss was the 2022 target, which overshot by 30%. The year-by-year table above shows every call.
How often did David Bianco revise his S&P 500 target?
About once every 32 weeks on average. Most years carried a single call, while 2013 and 2015 each saw two revisions as the outlook shifted. Every move is marked on the chart above.
What is David Bianco's role now?
Bianco is Chief Investment Officer for the Americas at DWS, the asset management business spun out of Deutsche Bank. In that role he sets the firm's investment strategy rather than publishing a single sell-side S&P 500 year-end price target, which is why AnaChart's tracked forecast record ends in 2022.