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Pastimes : The Justa and Lars Honors Bob Brinker Investment Club Thread
VTI 338.73+0.7%Dec 10 4:00 PM EST
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To: joefromspringfield who wrote (6510)10/16/2011 11:33:44 PM
From: marc ultra2 Recommendations  Read Replies (2) of 10065
 
Joe, Roubini is a miserable example IMO. Along with Meridith Whitney and others who looked like geniuses for a few minutes after Lehman was allowed to go down, they've all been wrong or dead wrong since as their grim bearishness has proved ridiculous. Most of these guys remained negative while the market doubled off the lows.

The ECRI has no such baggage. Because they are extremely conservative and turned back positive on the economy at the correct times, I just can't dismiss them like Bob. I agree Bob was rather bold in unnecessarily saying the ECRI call will be wrong. The record tells me in this case to give the benefit of the doubt to the ECRI instead of Bob and and thus against my initial expectations.

I've made that firm decision and have and continue to take action accordingly. Time will tell. As I think I said before, the ECRI has the most on the line. If there's no recession of some type it will be a huge blow to their reputation and the massively high fees they get paid for their advice and statistics. Bob's just another market timer. Far better than most but with a mixed record like all of them and his radio show will remain as long as he cares to do it. This is really the ECRI out on a limb and I hope I'm right that they will continue not to fall off.
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