Before you panic, this isn’t my forecast and it wasn’t made today. That was the warning from Wells Fargo strategist Gina Martin Adams on September 20, 2013.

The S&P 500 index had closed the prior day at 1,726, and Adams was predicting a significant downturn in the market. Specifically, she forecast that the S&P 500 would close out 2013 at a meager 1,440.

In fact, she had been bearish all year. And up to that point, the market had resolutely ignored her as the S&P 500 advanced steadily from its 2012 close of 1,426. After her September prediction, the market continued to ignore her call for a major correction and actually closed the year up at 1,848 — 28 percent higher than her forecast.

Read the rest of the article on CBS MoneyWatch.

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