(Bloomberg) -- Mike Wilson at Morgan Stanley, whose long-held bearish view on US stocks bore out this year, was ranked the best portfolio strategist in the latest Institutional Investor survey.

JPMorgan Chase & Co.’s Dubravko Lakos-Bujas was voted No. 2 in that category, followed by Michael Kantrowitz at Piper Sandler & Co. Lakos-Bujas also took the first spot in quantitative research, while his colleague Marko Kolanovic won the first place in equity-linked strategies. 

For a seventh consecutive year, JPMorgan’s stock analysts topped the leaderboard of the best researchers on the US sell side, this time edging out Bank of America Corp. and Morgan Stanley. 

Evercore ISI stayed in the fourth place. Ed Hyman, the firm’s chairman, was picked as the top economist -- a title he has earned 42 times in the 51-year history of the II’s equity research survey. Among the firm’s other victors, Rich Ross won out as the No. 1 technical analyst, while Krishna Guha gained the top spot in Washington research.  

Predicting 2022’s economy and financial markets has proved a tough job for many professional forecasters. After misjudging inflation as transitory, the Federal Reserve has been forced to hasten its monetary tightening at a rate not seen in decades. That’s wrecking havoc cross assets and regions. 

Read more: Crazy Markets Are Shredding Wall Street Stock and Bond Forecasts 

The S&P 500 has fallen into a bear market, losing 20% this year to close at 3,797 Monday. 

Back in January, only three of the 23 Wall Street prognosticators tracked by Bloomberg saw a lower stock market by December. Even Morgan Stanley’s Wilson, the biggest bear at that time with a year-end target of 4,400 for the S&P 500, subsequently had to roll out a new projection at a lower level. The benchmark index dropped below that 4,400 threshold in April and has not traded anywhere near those levels since. In fact, Wilson expects the gauge to close at 3,900 in June next year.

Elsewhere in the survey, Wolfe Research climbed to the fifth-best research shop, after cracking the top 10 for the first time in 2020. The firm’s strategist, Chris Senyek, was voted as the best on accounting and tax policy. 

The 2022 Institutional Investor ranking tallied ratings from 3,766 portfolio managers and analysts at 1,557 institutions.

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