Causaubon,
Sorry to harp on the issue, but if the bearishness continues LETs REMEMBER those that pushed the NEW ECONOMY excuse to justify S&P P/E's above 30, while the historical norm is in the 15-17 range. I feel strongly that many analysts get away too easily with their calls. They carefully watch their words to the extent that they can still manipulate the average investor without breaking laws. They keep it legal but not honest. The reason I say it is not honest is that especially the big firms do not disclose all information. The will make strong buy recommendations when the market is taking and they know better than all of us where the market is heading, especially for the shorter term with their superior TECHNICAL ANALYSTS which we seldom see.
I have a strong comment against RALPH ALCOMPORA. Ralph is probably a very good to excellent technical analyst, but the calls that he makes public are so bad. My contention is that his public calls are awful, but his in-house calls may be great. If his in-house calls were not good he would have been fired. I would not be surprised that Prudentials own trades are doing fine and they have adapted to this market as well as any other firm. So why keep someone who is making such lousey public calls, probably because in-house he is making much better calls. So is it possible that what he says in public is not what he is actually doing - HOW COULD THAT BE. gggggg
The BULLs have severely critisized the PERMA BEAR ANALYSTS for not seeing the bull run over the recent years. Keep in mind that although the PERM BEARs were wrong, NO ONE who followed them LOST MONEY, they only lost the potential to market money. THERE IS A DIFFERENCE BETWEEN ACTUALLY LOSING MONEY AND LOSING the POTENTIAL!!!!!!! Just ask those who bought PCLN in the 150 range, and there are HUNDREDS of similiar examples.
So the PERMA BEAR ANALYSTS were WRONG, and we know who they are. Are you going to remember all the the PERMA BULL ANALYSTS who were not able to get people out on a timely basis.
Joe BAGATAGLIA, a PERMA BULL, reduces his year end projection from 5500 for the NAZ to 4300 when the NAZ already lost about 35%. GOOD JOB JOE.
Dont get me wrong, Im not arguing whether it is a bear market or not, just critisizing the perma bull analayst who did help many LOSE MONEY, NOT JUST LOSE the OPPORTUNITY. |
