Faber now predicting market rebound LOL

[Fermion]

Has anyone done the research to figure out exactly how much money one would have lost listening to Marc Faber over the last 4 or 5 years?

I am not quite understanding how he still gets top headlines. This 2% drop we had recently he is evidently claiming as his big crash prediction.

 

[Live Free]

Why do they continue to give him a microphone? The financial reporters quoting Marc Faber on where the market is heading is no different than news reporters always quoting "The Donald" on world politics. Just filling up space on a news page.

Not sure who is actually listening.

 

[MRG]

Well he said correction and it dipped 2%. Then he watched KMP open, said the bulls are back. He's batting 1000.

Seriously I pay no attention to him or any other pundit. It's probably a good idea to do the opposite of what these people say, IMHO.

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[UnrealizedPotential]

I hate to say it,but will anyway: IMO Faber is a joke.I quit listening to him a long time ago.No one knows what the Stock market will do.That is why I just continue to invest and tune out all the noise.At some point all the Bears will be right,but the market will come back,it always has.

 

[Jay_Gatsby]

Agree generally. Blind squirrel, nut, etc... It's time in the market, not market timing. This isn't to say you should buy when everyone is jumping in, but gradual and consistent DCA will serve you well.


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[rodi]

I don't listen to any of these guys for market predictions. That said - he's done some good financial reporting/investigating. That's an entirely different thing.

But, yeah, I put Faber's predictions in the same camp as Kramer, Kudlow, et-al. Talking heads who have figured out that predicting stuff gets them air time.

It used to be a joke at work that you should do the opposite of Kramer on his stock picks - especially our company stock. He would manically scream that it was buy buy buy time for our stock - which would instantaneously plumet to almost penny stock levels. Then he'd yell sell-sell-sell, and the stock would go back up - (and we'd quickly sell our options/RSUs before he started yelling "buy" again. ) The Kramer contra-indicator was 100% accurate for our company stock.

I put all the financial talking heads in the same camp - noise to ignore.

 

[marko]

I wish there was a tally somewhere of all the expert predictors; financial, weather, sports, political. I've grown so tired of "well, this is what is coming next" only to have the opposite occur.
It would be great if someone kept track of these frauds.

 

[Jay_Gatsby]

I wish there was a tally somewhere of all the expert predictors; financial, weather, sports, political. I've grown so tired of "well, this is what is coming next" only to have the opposite occur.
It would be great if someone kept track of these frauds.

Someone probably is, but they're not sharing.


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[M Paquette]

Someone probably is, but they're not sharing.

CXO Advisory has been tracking many of the gooroos who have been making regular, quantifiable forecasts. This doesn't include the 'doom is coming, maybe, eventually' crowd, but it does include some well known talking heads.

Stock Market Guru Grades - CXO Advisory

The following chart tracks the inception-to-date accuracy of all 6,582 graded forecasts in the sample. The extreme values early in the sample period relate to small cumulative samples. Terminal accuracy is 46.9%, an aggregate value very steady since the end of 2006.

Sure sounds like coin-flipping to me...

Oh, and the suspect under discussion...

Guru Forecasts Accuracy

Marc Faber 164 44.6%