Analysts get on my nerves, not only because they seem to have no idea what they are doing, but also because they are insanely well paid for it. The one I abuse the most these days (as does xTrends) is Marko Kolanovic, JP Morgan’s shill.
He has spent the entirety of 2022 talking about how the market is oversold and how it’s time to BTFD. He hasn’t been right even ONCE. He’s constantly on television talking about how the time to buy stocks is, oh, let’s say, right about NOW.
Here’s what surprised me though: I went over to the man’s Twitter account, figuring he would have a million followers. Nope. It’s an almost totally inactive account, and he’s got a pretty small following. But, pinned right at the top, is a retweet he did from September 2016 inn which he was quoted was declaring that the stock market had “short-term upside” that was “not large, given already high valuations.’
I have thoughtfully put an arrow at the point in the SPY where he made this statement.
So………this guy is dead wrong with he’s bullish, and dead wrong when he’s lukewarm about stocks? Indeed, so dead wrong that the one instance which he wants to feature prominently on Twitter above all others is a time when he made a really lousy call?
Where do I sign up for this work? Do they have direct deposit?
