CNN: The Market Going Down 60%

[yakers]

Saw it on CNN, it must be true, fellow has a good record and great charts:

Market Collapse Predicted By Scientist

Funny, I am not selling off my equities for bonds or cash or gold. Nothing I can do with this precious information.

[RockyMtn]

funny....I saw a report that said the market was going UP 60%!

[timo2]

Quote:

Originally Posted by yakers Saw it on CNN, it must be true, fellow has a good record and great charts: Market Collapse Predicted By Scientist Funny, I am not selling off my equities for bonds or cash or gold. Nothing I can do with this precious information.

the point of every MoneyNews article I've seen is to try to sell some service to you.

[marc515]

If you read it on the internet, it must be true!

[Keim]

Quote:

Originally Posted by marc515 If you read it on the internet, it must be true!

But... But... But... He had CHARTS!

[gerrym51]

i would put that report next to this-


Dow 40, 000: Strategies for Profiting from the Greatest Bull Market in History: David Elias: 9780071351287: Amazon.com: Books

[heeyy_joe]

Quote:

Originally Posted by marc515 If you read it on the internet, it must be true!

And I'm a French model: "Bonjour!"

[ls99]

Will that be before or after the asteroid hits?

[ejman]

Good ol' Newsmax. The best source for totally unbiased information in the entire planet.

[Amethyst]

Two years ago, we attended one of those "free" dinners hosted by a FA. His pitch was that the market will continue to be "sideways" until 2020, and therefore we should all buy a "sound financial plan," plus alternative investments - from him.

Last week, we attended another dinner (theme was "retirement planning), where the FA's pitch was that the market will go even higher, then crash, and the way to survive the inevitable crash is to pay him for a sound financial plan, plus alternative investments - where we are guaranteed not to lose everything, because he uses stop-losses.

I always wonder why these crystal ball gazers still need to work at selling financial services to other people. Why don't they take their billions and retire to an island?

Amethyst

[Live And Learn]

Well apparently the article is good news !

Quote:

The first “top” was in 1999, followed by a 60% market decline. The second “top” was in 2007, again followed by a 60% market plunge. And a third top has now formed, and a 60% stock market drop is inevitable - and it could strike at any moment. Unfortunately, Martenson is not the only economist predicting a massive, historic meltdown. In fact, his figures are conservative compared to other experts in his field. In a recent interview, Robert Wiedemer — an economist best known for correctly predicting the collapse of the U.S. housing market of 2006 and the stock market collapse of 2008 — provides disturbing evidence for 50 percent unemployment, a 90 percent stock market crash, and 100 percent annual inflation . . . starting this year.

[GalaxyBoy]

Thanks for the link to the "Dow 40,000" book. The Amazon web site had links to similar jewels from the recent past, including this one published in 2006:

Why the Real Estate Boom Will Not Bust - And How You Can Profit from It: How to Build Wealth in Today's Expanding Real Estate Market: David Lereah: 9780385514354: Amazon.com: Books

Then there's "Dow 36,000" and even "Dow 100,000". I wish they'd get their forecasts straight!

Of course, I remember as a kid in the 60's watching Walter Cronkite read the Dow Jones Industrials report and as I recall it was somewhere in the 600-800 range.

[mickeyd]

Didn't I recently read something about Jack Bogle saying that the market could drop 50%? 50%...60%?

[omni550]

Quote:

Originally Posted by GalaxyBoy Thanks for the link to the "Dow 40,000" book. The Amazon web site had links to similar jewels from the recent past, including this one published in 2006: Why the Real Estate Boom Will Not Bust - And How You Can Profit from It: How to Build Wealth in Today's Expanding Real Estate Market: David Lereah: 9780385514354: Amazon.com: Books Then there's "Dow 36,000" and even "Dow 100,000". I wish they'd get their forecasts straight! Of course, I remember as a kid in the 60's watching Walter Cronkite read the Dow Jones Industrials report and as I recall it was somewhere in the 600-800 range.

from David Lereah Watch.....

David Lereah Watch

David Lereah is the former Chief Economist and Senior VP of the National Association of Realtors (NAR). Between 2001 and 2007, Mr. Lereah regularly made statements regarding the housing bubble. The media regulary turned to him for real estate quotes. He was very influential. Mr. Lereah tells half truths and manipulates facts and figures. He cannot be trusted as he was a paid shill.

[Live And Learn]

Quote:

Quote:

CNBC anchor Scott Wapner put the question to Bogle: "You say, 'prepare for at least two declines of 25-30 percent, maybe even 50 percent, in the coming decade.' For a buy-and-hold guy, that's a little concerning, don't you think?" Bogle replied: Not at all. They come and go. The market goes up, and the market goes down. It's never failed to recover from one of those 50 percent declines. I went through one in 1973-1974, I went through one in 2001, 2002, 2003; I went through another one 2008-2009. They're kind of scary – often terrifying – but it's typical. Why it doesn't bother me is if you hang on through the cycle, that's the only way to invest. Trying to guess when it's going to go way up or way down is simply not a productive way to put your money to work. Bogle's comments don't represent any sort of shift in his philosophy – he remains as big a proponent of buy-and-hold investing as ever.

Quote:

Read more: Jack Bogle Warns Of Two 50% Market Drops - Business Insider

Re the comment above about Jack Bogel predicting a 50% market decline-- he did, over the next decade. And that would be after it goes up first, I'm sure.

[obgyn65]

Whatever the market does, I have been advised by my friends on this website to keep the Wellesley I bought a few weeks ago. A thread was started on this topic. BUY AND HOLD :-)

[traineeinvestor]

Another distinguished graduate of the Harry Dent and Robert Pretcher school of forecasting -

The Harry Dent Indicator


The Embarrassing Track Record of Robert Prechter (Part 1) - AVA Investment Analytics

[target2019]

The market will go down.
At some point in time.
And then it will go back up.

[jollystomper]

Quote:

Originally Posted by target2019 The market will go down. At some point in time. And then it will go back up.

+1

I'm always amused by these "predictions", as with anything cyclic one can predict it going up or down and occasionally be right. As the saying goes, "even a blind squirrel can find a nut every once in a while".

What is sadder is that the news media doesn't convey this message. When it goes down, they generally act as if it will never go up again. When it goes up, they act as if it eventually going down again will can panic in he streets, cats and dogs living together, etc. But I guess taking the calm and steady view doesn't draw enough eyes to sell advertising space or attract website hits.

[Semiretired2008]

Quote:

Originally Posted by Amethyst I always wonder why these crystal ball gazers still need to work at selling financial services to other people. Why don't they take their billions and retire to an island?

Quite a few did - retired comfortably - right after the last crash...