Serenity criticizes Bank of America: Wrong predictions trigger retail panic, acting like a "reverse indicator"

Odaily reported that Serenity criticized certain market views from Bank of America on the X platform, stating that its performance resembles a "malicious version of Bernstein/Jim Cramer" and may mislead retail investors. According to reports, Bank of America claimed that the Korea Composite Stock Price Index (KOSPI) and the Korean ETF (EWY) are in an "extreme bubble," comparing them to the silver crash in March, which led some retail investors to sell their holdings. However, the Korean stock index subsequently continued to rise, nearly doubling and reaching an all-time high.

Serenity added that Bank of America recently also put forward the view of "expecting three interest rate cuts in 2026," which clearly deviates from derivatives market pricing. The market currently sees the probability of this scenario as close to 0%. Such predictions could trigger retail panic while contradicting the previous stance of the Trump administration to push for rate cuts. As a major U.S. bank, issuing these "garbage predictions" and disseminating them to retail investors is a harmful act.