Watching CNBC yesterday and was amazed at the number of experts talking about how they had gone defensive some time ago and how they saw the downturn coming.
These were the same people that were telling everyone to buy just a very short time ago (at a much higher S&P)
I find it remarkable that people that get paid much more than I do (did) can only explain what the market is doing after the fact. I can do that!
I think that CNBC should review the results of their experts and when they are wrong no longer allow them on the shows. At the end we would have an accurate few (but my bet is that we wouldn't have any "expert guests" left to interview.)
These were the same people that were telling everyone to buy just a very short time ago (at a much higher S&P)
I find it remarkable that people that get paid much more than I do (did) can only explain what the market is doing after the fact. I can do that!
I think that CNBC should review the results of their experts and when they are wrong no longer allow them on the shows. At the end we would have an accurate few (but my bet is that we wouldn't have any "expert guests" left to interview.)