Meet the Street: A Bear Among Bulls

As corporate America closes the books on 2001 earnings, Wall Street is widely forecasting a better chapter in 2002.

But not everyone is so optimistic: Tom Van Leuven, U.S. equity market strategist at J.P. Morgan Chase, isn't predicting any earnings growth this year, and he thinks analysts are too optimistic about their vision for technology profits. In 2002, Van Leuven estimates the S&P 500 will fall nearly 20%.

Last year, Van Leuven and his J.P. Morgan team were closer than most other strategists in their forecast for the S&P 500, predicting the index would end up at about 1400, while others said it could reach 1675. ...