November 13, 2011
– Comments (2)
All ponzi schemes end badly for the late comers....
Pretty sure 2 years from now with DOW at 18,000 he will still be talking about how the Market is going to crash.Sorta like always saying every single year that we are going to have an active Hurricane season.... Even after a decade+ of being wrong, it only takes 1 year in which you are proven right to totally discount how wrong you were.No one cares about the 10+ years of being wrong.....WOW! You were right!!!! Everyone should follow Varchild2008 because finally he's been proven right!!What a joke. I've seen people declare that the market is going to crash ever since the market hit bottom in March of 2009.So we are going on what....nearly 3 years of analysts like this being wrong?
Biderman has a good insight here. I hadn't realized that companies had been buying back stock at such a rate.
He also didn't mention that QE2 didn't really end. When the end was announced, the rate of treasury-buying went down, but it didn't stop. Also, a continued easy money policy was announced, so the market knew the buying would continue at some significiant though unspecified rate. This accounts for his prediction failing, since the predicate has not yet occurred except in name.