The Justa and Lars Honors Bob Brinker Investment Club Thread Message Board

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Pastimes : The Justa and Lars Honors Bob Brinker Investment Club Thread

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To: gronieel2 who wrote (6950)	2/21/2012 9:42:45 AM
From: gronieel2	2 Recommendations Read Replies (1) of 10065

Harry Dent Makes His Money from Writing Books, Not Investing One bearish market sage who looks particularly foolish right now is Harry Dent, author of the 2011 book The Great Crash Ahead, as well as the 2009 doomsday “classic” The Great Depression Ahead. To be fair, Dent hasn’t always been bearish, having also written 1993’s The Great Boom Ahead, 1999’s The Roaring 2000s Investor, and 2006’s The Next Great Bubble Boom. Except for his book in 1993 which correctly predicted a strong bull market during the 1990s, all of his other books have pretty much been dead wrong on the market’s future direction. Given his poor track record, one could easily dismiss his most recent book The Great Crash Ahead as a contrary indicator that bodes well for the stock market. After all, on December 30th Dent was interviewed on Bloomberg TV and recommended that investors sell all their stocks, predicting that the S&P 500 would fall 30% to 50% in 2012 – right before the stock market staged its strongest rally to start a new calendar year since 1987 (25 years ago)! His work has been criticized also for heavy use of data dredging - where it is easy to find patterns in past data and assign predictive powers to them when many such patterns occur in every data collection purely by chance. Dent has been criticized also by many economists for being downright wrong in several of his predictions. In fact, www.maxfunds.com, a financial reporting site awarded him the The "Ultimate Charlatan"Award. investingdaily.com en.wikipedia.org

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