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02-04-2016, 11:25 AM
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#1
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Thinks s/he gets paid by the post
Join Date: Mar 2010
Location: Chicago
Posts: 1,154
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Dow 6000
Rogue economist Harry Dent is at it again and says we are about to enter what he calls the Greatest Depression. Predicts Dow to hit 6000 this year. Look out below.
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02-04-2016, 11:28 AM
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#2
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 38,145
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This year!
That's an impressive prediction.
__________________
Retired since summer 1999.
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02-04-2016, 11:47 AM
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#3
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Sep 2005
Posts: 5,381
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From the guy who brought you this in January 2009.
__________________
Retired early, traveling perpetually.
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02-04-2016, 12:42 PM
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#4
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Thinks s/he gets paid by the post
Join Date: Apr 2012
Location: Nashville
Posts: 2,506
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Is that before or after the Dow hits 40,000?  (Per wiki article on him: In 2000, based on his forecast that economic growth would continue throughout the 2000s, Dent predicted that the DOW would reach 40,000, a prediction which was repeated in his 2004 book.)
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OMY * 3 2ish Done 7.28.17
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02-04-2016, 12:58 PM
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#5
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Thinks s/he gets paid by the post
Join Date: Dec 2015
Posts: 2,232
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He's not, perchance, selling anything that would be promoted in his book, is he?
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02-04-2016, 01:09 PM
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#6
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Thinks s/he gets paid by the post
Join Date: Jul 2004
Posts: 1,434
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I bet he's getting rich. He has achieved the Peter Principle Sweet Spot.
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02-04-2016, 01:10 PM
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#7
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Thinks s/he gets paid by the post
Join Date: Oct 2002
Location: Chattanooga
Posts: 3,894
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As usual Harry is full of ****, a stopped clock is right twice a day. I was foolish enough to buy and read his book "2000s Investor". He sells snake oil like many of those who proclaim to see the future. They all want to tell you about their home runs but neglect to mention their strike outs.
__________________
Earning money is an action, saving money is a behavior, growing money takes a well diversified portfolio and the discipline to ignore market swings.
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02-04-2016, 01:32 PM
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#8
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Thinks s/he gets paid by the post
Join Date: Mar 2010
Location: Chicago
Posts: 1,154
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Well, he might have the year wrong. If not this year, then next, or whenever he gets it right. 
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02-04-2016, 01:35 PM
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#9
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Dec 2015
Location: Michigan
Posts: 5,003
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He just wants to sell books for bears to justify their position.
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"The mountains are calling, and I must go." John Muir
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02-04-2016, 03:07 PM
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#10
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Full time employment: Posting here.
Join Date: Aug 2015
Posts: 550
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There are a few authors - economists who predict US economy slow but grow for the next few years. On the other hand there are a few others in addition to Harry Dent (like Peter Schiff, Marc Faber, James Rickards etc) who predict prolonged depression and point to many reasons why they think so. It is up to you to be an optimist or pessimist. I think that it is better to be cautious and be partially in stocks, RE and cash.
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02-04-2016, 03:18 PM
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#11
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Thinks s/he gets paid by the post
Join Date: Mar 2009
Posts: 2,985
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Then at the end of the year he wasn't wrong he was just early
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Took SS at 62 and hope I live long enough to regret the decision.
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02-04-2016, 07:36 PM
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#12
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Thinks s/he gets paid by the post
Join Date: Jun 2002
Posts: 1,637
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Like a guy I chat with at the gym. He was a trader for Wellington Mgt in Boston before he retired. One day he told me, "I think the market is going to surprise us." I asked when? How? On the upside or downside? He said, "Oh, I don't know any of those details; I just know it's going to surprise us."
Sent from my iPod touch using Early Retirement Forum
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friar1610
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02-04-2016, 08:08 PM
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#13
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 38,145
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 Quote:
Originally Posted by VFK57
There are a few authors - economists who predict US economy slow but grow for the next few years. On the other hand there are a few others in addition to Harry Dent (like Peter Schiff, Marc Faber, James Rickards etc) who predict prolonged depression and point to many reasons why they think so. It is up to you to be an optimist or pessimist. I think that it is better to be cautious and be partially in stocks, RE and cash.
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I remember Peter Schiff's wild call in 2012 for $5000 gold. At that time he said $1700 was a bargain. I feel bad for those who acted on his advice. There were tons of people loading up on gold at the time - I remember the gold bug ads.
CNBC has a decent review of his record so far: The Peter Meter: Assessing Schiff's predictions
Of course Schiff explains now that he was just early.
You can go nuts listening to perma-bears or perma-bulls. They have it all figured out - it sounds so logical - on the surface. And they are so convinced.
__________________
Retired since summer 1999.
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02-04-2016, 08:23 PM
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#14
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Thinks s/he gets paid by the post
Join Date: Aug 2010
Posts: 1,440
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could care less about a 6000 prediction. AA is 50/50 with adequate cash to carry us through several bad years. FIRE is good!
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