Re-Reading the 2014 Tea Leaves -- Assessing Year-End Predictions

NEW YORK (TheStreet) -- While I'm not a fan of year-end prediction columns, I still find myself writing one each and every year. More than mid-way through 2014, it's time to own up to what I've already gotten wrong and take credit where credit is due.

For the sake of brevity, I've summarized the 10 predictions, but you can refer to the original version for greater detail.

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The Markets

1.
It should be a big year in the broad U.S. markets as measured by the S&P 500 for 2014; not a +4% to +6% year, but a 10% to 20% move up or down

With the S&P 500 (SPY) up 8% year to date, the jury is still out here, but mid-way through, the markets seem to be stalling as more pundits are calling for a correction. Either way, I am still in contention with this one.

2. Interest rates will rise during the year, with the 10-year note ending in excess of 4%.

The 10-year note started the year near 3%, and has fallen below 2.5%, despite the Fed taper. It's not looking good here for this call. The economy is still in the dumps, keeping rates low, and halfway through the year, I could not have been more wrong.

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3. Overall, restaurant stocks will have a rough go of it in 2014.

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