Author Topic: Here are all the pros that have been wrong about this rally  (Read 2805 times)

Honest Abe

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Here are all the pros that have been wrong about this rally
« on: March 11, 2013, 08:23:12 PM »

smedleyb

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Re: Here are all the pros that have been wrong about this rally
« Reply #1 on: March 11, 2013, 08:34:08 PM »
Did you know better, or were you just luckier?

http://www.businessinsider.com/dow-jones-idiot-maker-rally-2013-3?op=1

In all fairness, some of those calls were short term trading calls:

"Sell all U.S. stocks now. We're heading to 1018...When markets get this unstable, it doesn't take much to destabilize market."

That was Keith McCullough speaking in May 2010 after an extended run which took the SPX above 1200.  Several weeks later the SPX sold off hard and bottomed at -- wait for it -- SPX 1010. 

Crappy, misleading list, IMO.

(although Roubini is currently very bullish on the market.  Should we now sell? lol.) 
« Last Edit: March 11, 2013, 08:35:47 PM by smedleyb »

destron

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Re: Here are all the pros that have been wrong about this rally
« Reply #2 on: March 11, 2013, 08:58:42 PM »
I do know better -- I know better than to try and time the market.

mm31

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Re: Here are all the pros that have been wrong about this rally
« Reply #3 on: March 11, 2013, 09:00:24 PM »
Neither, I'm just long on the market.

sol

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Re: Here are all the pros that have been wrong about this rally
« Reply #4 on: March 11, 2013, 09:33:09 PM »
I will claim to have known better. 

On average, the stock market always goes up.  If you just flip coins, bears will be wrong more often than bulls.  In the long run, investing now is always the better strategy.

bigchrisb

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Re: Here are all the pros that have been wrong about this rally
« Reply #5 on: March 11, 2013, 11:15:13 PM »
I've been luckier.  It just so happened that I embarked on an aggressive saving and investment strategy in 2008.  This co-incided well with how the markets have turned out, and I've done pretty well out of it. 

My intent was always to keep the same aggressive (3x leverage) investment approach, and not try to time the market.  However, I've got to the point where that much leverage is concerning me, and I'm making an effort to reduce it (in other words, I'm currently timing the market by paying down this debt rather than continuing on the original plan).  I guess only time will tell if it is a prudent strategy.

However, I view it as more of a strategy adjustment than specific market timing, as in hindsight, my initial approach was too aggressive.

SamV

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Re: Here are all the pros that have been wrong about this rally
« Reply #6 on: March 13, 2013, 03:03:00 PM »
I do know better -- I know better than to try and time the market.
Ditto.