The rally that made the smartest people look like idiots~
On hindsight...it sometimes is a good idea to do the opposite of the pros~
15 gurus who look like fools:
"Thus, most likely, we can brace ourselves for new lows on U.S. and global equities in the next 12 to 18 months." Nouriel Roubini, March 12.
“So, I know a lot of you have stayed in the market the whole time it has been falling and are now wondering what to do. If you have a ten-year time horizon you probably can buy here and do OK. But I wouldn't. I think this market is going to have more problems as we confront the real possibility that we will get some really poor earnings for the first and second quarters. The economy is simply weak, and that weakness is hitting more and more companies. From exporting companies to the big international firms, a global slowdown is hitting almost everyone. Even hospitals are being challenged. We could see a real bear market rally lure investors back in, just to crush their hopes this summer.”
-- John Maudlin, March 14th. DJIA: 7223.98
"The bull run has run out of steam, felled by higher commodity prices and yields on long bonds that keep pushing higher."
-- Joe Weisenthal, June 14 DJIA: 8799.26
"It would not surprise us to see the S&P 500 gravitate in a 475-650 range for an extended period of time."
David Rosenberg, April 2 DJIA: 7978.08
"I expect this risk rally to continue into – and maybe through – a large part of August. What happens after that? The next ugly leg of the bear market begins as we get into the July through September 'tipping zone', driven by the failure of the data to validate the V (shaped recovery) that is now fully priced into markets."
-- Bob Janjuah, economist at Royal Bank of Scotland,