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Pastimes : A Jackass, his PAL(indrome), and GOLD
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To: Jim Willie CB who wrote (32)12/29/2002 11:18:37 PM
From: SOROS  Read Replies (1) of 1210
 
How many will continue to listen to the paid promoters? If a little thinking were done, perhaps not many. They have done their jobs well the past year in accomplishing keeping any real selling from going on, but how much longer can they fool the masses?

Here were the great predictions of the smartest Wallstreet had to offer concerning how 2002 would shape up.

Ed Kerschner of UBS PaineWebber said the S&P 500 would get to 1600 in 2002.

Abby Joseph Cohen of Goldman Sachs said the S&P would be at 1,300 and the Dow at 12,500.

Jeff Applegate of Lehman Brothers predicted the S&P would finish 2002 at 1,350.

And Henry Cavanna of JP Morgan said in November of 2001, "What this market is telling you is that economic recovery next year is an absolute certainty."

Now the same "best of Wallstreet" are making the same (4th year in a row) absurd predictions meant to keep investors from selling. They would like some buying, but the key to prevent a meltdown is to stop selling. Keep people thinking, "I have to stay in to make up my losses when the markets turn." At some point, someone of significance is going to figure out they have been scammed and are about to get scammed again. When they pull the plug, everyone and their mother is going to try and get out before the drain gets plugged with dead bodies, and they have to spend a short eternity in the dirty bath water with nothing to grab onto but Greenspasm's backside, his rubber ducky, and a wad of wet dollar bills.

I remain,

SOROS
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