J.P. Morgan is bearish on Tesla analyst Marko Kolanovic (Marko Kolanovic) who insisted on voicing his opinions and was fired by CEO Jamie Dimon

I have predicted mistakes in US stocks many times that JPM.US (JPM.US) chief strategist Kolanovic will leave his job

According to reports, Marko Kolanovic (Marko Kolanovic), chief market strategist and co-head of global research at JPMorgan Chase (JPM.US), is about to leave the bank, according to information disclosed in an internal memorandum.

During his 19-year career at J.P. Morgan Chase, Kolanovic is known for his deep insight into the market. However, according to the memorandum, he is currently seeking new career opportunities. With the departure of Kolanovic, Hussain Malik, co-head of global research, will assume sole responsibility as head of global research.

Although J.P. Morgan Chase's spokesperson is silent on the matter, and Kranovic and Malik have yet to respond to requests for comment, the change will undoubtedly attract widespread attention in the financial community.

According to information, Kolanovic has experienced some challenges in predicting the stock market. In 2022, even though the S&P 500 index fell 19%, he remained bullish, unlike many Wall Street strategists who lowered market expectations at the time. However, when the market bottomed out and rebounded, his bearish shift caused him to miss the subsequent 24% increase in the S&P 500 index and 14% increase in the first half of 2023.

J.P. Morgan Chase's strategy team, led by Kolanovic, was unique among the big Wall Street banks and continued to predict that the US stock market would face a sell-off. This position is in stark contrast to the steady upward expectations of other financial institutions such as Goldman Sachs Group, Citigroup, and Bank of America. Among the banks tracked by Bloomberg, J.P. Morgan Chase set the lowest price target for the 2024 S&P 500 index, which is only 4,200 points. Currently, the index's trading price is much higher than 5,500 points.

Kolanovic's departure may have an important impact on J.P. Morgan's market strategy and global research team, while also providing market observers with insight into senior changes in the financial industry. As he explores new career paths, the industry will keep a close eye on who will take over the heavy responsibilities he left behind at J.P. Morgan and lead the team to meet future market challenges.