Over the past month, media sources from Barron's to FORTUNE to Business Week have published their 2009 investment guides. The idea, of course, is that the best minds at the most prestigious money management or investment banking firms peer into the future and offer their best investment ideas for the next 12 months. Often, though, the investment ideas that looked like layups and slam dunks in late December end up looking like desperation three-pointers by mid-point of the following year. With that in mind, New York Magazine has put together a compendium of some of the worst investment calls of 2008, made by high-profile strategists and market commentators, including Jim Cramer, Elaine Garzarelli and senior writers at FORTUNE.

Merrill Lynch a "screaming buy"? Goldman Sachs "inevitable" at $300? GE as the "ultimate blue chip" for troubled times? Ha. Think again. Some of these picks were down as much as 77% in 2008.

In the city that never sleeps, it appears that quite a few on Wall Street were caught napping. Let's hope that some of the calls that investment strategists make for 2009 are more on target. For members of the TradeKing community: What were some of the worst calls of 2008?

[image: 2008 Investment Guides] Share this! Report

GOOG a SCREAMING buy @ +$750.00 (30 x earnings)  This price target was reiterated tirelessly by the shmucks, even as the broader market was sagging.

The merger between Sirius (SIRI) and XM (XMSR) satellite radio. Thanks DOJ. Oh yeah and thx kerry killenger for the excellant job at WaMu.

Remember the cover of Barron's with the headline "Time to Buy GM" (or something like that)?  I think the shares were above $15 at the time.