Nick never has a response, not one that is sane, credible, or ever relevant anyway.
I'm not picking on him because I disagree with him - that I would never do. I am singling him out because his approach merely is to keep repeating "it will be fine".
I also single him out because his rationale for "it will be fine" is based on the premise that he forecast the market years out into the future.
I also single him out because I strongly suspect he has no methodology at all for his "forecasts" and his inability or unwillingness to share a single rationale thought in explanation of his thinking is a big red flag.
Ralph Acampora, chief technical analyst at Prudential, is the poster boy for such foolishness, with his "mega market" theories released virtually at the peak of the market. I guess he sold some books, but he surely did not forecast what was far more important than where the market might be 10, 20 years from now... he was unable to discern that the major markets would be hit by a devastating bear run which would wipe trillions off the accounts of ordinary people everywhere.
Nicky, whose real name appears to be Rodney, is better and worse than Ralph. Even though outlandish long term forecasting is one thing they share in common, at least Nicky doesn't get the same coverage that Ralph once did. |
