It’s rant time!
Regardez vous si vous plait:
So here we are near the highest equity prices in human history, hopelessly buried in debt, with an economy that’s already entering an intractable recession. And yet this guy says….in MarketWatch’s “call of the day”……
So he expects the Dow to go to 40,000 – – because it’s a Big Round Number, I guess, and more impressive than 30,000 – – and THEN thinks it’ll stay there for another decade.
Jesus CHRIST, what a ma-roon.
He also goes on to say that Jerome Powell will save the day by making goddamned sure the market never goes down. The traitorous Powell will ensure the economy stays in – – and I quote – – tip-toe shape.
Well, look, I can’t really blame this clown. He, like the rest of the country, has been molly-coddled into complacency and expects his wet-nurse Jerome to whip his man-tits out any time “investors” starts to screech that the market is down a quarter of a percent. Totally understandable.
But my beef isn’t as much to do with his empty-headed guess about where the Dow is going than with MarketWatch’s assumption that we all have to take this guy seriously just because he “nailed” the 2018 selloff. Obviously that’s why they included it in the headline. It gives this Bozo some credibility.
Guys, let me tell you as a person who makes his living making predictions………I “nail‘ a ton of things, sometimes to the point of apparent genius, and I also make a complete fool of myself by getting stuff completely, totally, and 100% wrong. It’s a mixed beg. I try my best, but like anyone else, there are going to be hits and misses.
If you asked me to come up with 30 clearly-articulated predictions that made me look like I have absolutely no idea what I’m doing, and that people will lose all their money listening to me, and proving I should be forbidden from even having a computer, I would have no trouble finding them.
Likewise, if you asked me to come up with 30 examples where it seems like I am a time traveler and am simply coming back to make 100% accurate, oh-my-God-Tim-is-amazing type predictions, I could do that too! It’s called cherry-picking. Your friendly neighborhood Elliott Wave analysts are masters at it.
So the fact that this guy “nailed” something (whatever that means) is absolutely MEANINGLESS.
May I share with you another article that the same website wrote about the same market analyst last October?
Take note of the direct quote: that investors should be out of stocks for most of 2019. Oh, you mean this 2019?
I hope I’ve made my point.