I just wanted to remind everyone that this idiot predicted a 20,000 point Dow by the end of the year.
Have a nice day.
Article by John Pozadzides
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proof that the best and the brightest suffer from myopia.
Geez, John! “Idiot” and “moron”. The guy made a bad prediction and you resort to name calling. Why not, in your words, give us your market analysis and how about a prediction so a year or two from now we see how you fare.
You’re right Mark. Pretty harsh words I know. Let me tell you why…
This guy is a professional market analyst. People pay him for his opinion. He didn’t just “slightly” miss the mark. He was so far off the scale that if anyone followed his advice they would be completely broke now.
What bothers me is that this guy was not the only one. My brokerage firm’s top analysts also predicted an upswing in the market to 15,000 at first and then it was downgraded to around 14,000. All the while I was telling them there is NO WAY that was going to happen. But even though they were all wrong – this guy was at least three times more wrong than anyone else.
Occasionally i have been known to explain the financial situation here on my blog, and even make predictions (all of which have so far come to pass as predicted – luckily). But what I really object to is when someone gives financial advice that is so far off the mark and so far out of the mainstream thinking that you must question their methodology, data, or sanity.
This guy put himself out there as an expert. He made a terrible, terrible prediction which likely caused some people to lose a lot of money. Now he deserves to reap the consequences. So, I still maintain he’s a moron.
:-)
Cheers,
John
If they are that great experts I wonder why they still work… They should be filthy rich if they know everything…
Poor guy.Got Exposed badly.
Hahaha! He should have kept his mouth shut.
It sure does seem out of the ordinary, but at the same time, there will always be extraneous data points as far as predictions made by individuals. Some of these unexpected guesses result in success and individuals asking “how did he know what was going to happen?”.