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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Think4Yourself who wrote (174777)1/2/2009 11:26:32 AM
From: James HuttonRead Replies (1) of 306849
 
"Was listening fund managers and analysts on CNBC this morning, REALLY listening to what they had to say. It suddenly dawned on me that these guys have no clue what is going. They really don't. They aren't dummies, and some of them even seem smart. It's just a problem of them not doing their homework. They each have a few pieces of the puzzle, and know one or two industries in isolation, but none of them are even close to seeing the big picture. Their predictions are so incredibly preposterous..."

Wall Street is just a constant sales pitch: brokers trying to get accounts and commissions; fund managers talking their books, Execs. b.s.-ing the board (if they haven't put their own hacks thereon), analysts, and their buddies in the government to keep the bonus gravy train going, etc. Knowledge and performance is secondary. The only thing in their favor is that over the long term, the market is usually up.
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