Wall Street’s biggest bear says the S&P 500 could drop to 4,200. Here’s his advice for right now.

Heading into 2025, most Wall Street strategists were predicting further gains after missing last year’s 23% advance for the S&P 500.

But there was lone Wall Street bear, BCA Research’s chief global strategist Peter Berezin, whose year-end S&P 500 SPX target of 4,450 compared to the 6,500 average, and Oppenheimer’s 7,100 top.