Serenity criticizes Bank of America: Wrong predictions cause retail investors panic, similar to a "contrarian indicator"

According to Odaily, Serenity criticized some market views of Bank of America in a post on platform X, saying the institution is acting like a “malicious version of Bernstein/Jim Cramer” and may be misleading retail investors. Reportedly, Bank of America claimed that the Korea Composite Stock Price Index (KOSPI) and Korea ETF (EWY) are in an “extreme bubble” and compared them to the silver price plunge in March, prompting some retail investors to sell their holdings. However, the Korean stock index continued to rise afterward, nearly doubling and hitting an all-time high.

Serenity further commented that Bank of America recently suggested “there will be three interest rate cuts in 2026,” a forecast that shows a clear discrepancy with derivatives market pricing, as the market currently sees this scenario’s likelihood as close to 0%. Such predictions could trigger panic among retail investors and also contradict the Trump administration’s previous push for rate cuts. As a major U.S. bank, issuing such “junk forecasts” and spreading them among retail investors is a harmful practice.