Kolanovic contends its vital to be ready for all possibilities.His firm's official
year-end target is 4,900. But in a recent note, Kolanovic speculated the index would end the year around 4,800, still on par with all-time highs hit on Jan. 4. Right now, the S&P is 16% below its record high."We don't think investors will stick in cash for the next 12 months, you know, waiting for this recession," Kolanovic said.