SB and K and all;
I questioned his rhetoric, not his credibility, which I respect and have observed for over 10 years. Interestingly, Abby Cohen has also remained a bull for many years and was inteviewed Monday on CNBC. Her views pretty much agree with BB's from what I could tell, but her rhetoric did not involve deriding those who disagree with her market calls(and there are many). I respect the ability to put across ones viewpoint in a professional manner.
Indeed, it is too soon to know if this is a correction or a bear market; I don't feel that BB sufficiently warned us it was comeing, whatever it turns out to be.
In regards to market models, Ralph Acampora made a market call presumably based on his own model and it came close to being right in a few days and may yet prove to be right.
Of course, I understand that some of BB's rhetoric is for entertainment value, much needed in a 3 hour investment program.
In regards to the fundamentals changing, people like Yardeni think that they have changed. Recently, he stated that we are in a period of disinflation (BB sees only low inflation), which puts us in a bear market( best as I can recall his views). Its a matter of judgment as to which fundamentals to focus on, and how to judge them.
What concerns me is that new factors are now on the scene which were not factors when BBs model was developed. Political instabilities are strongly affecting the market now and economic instabilities are not being cured by IMF measures.
I think the value of this thread is in sharing critical thinking, not in adulation of a guru.
Best, David |
