Addi:
Once again I concur with your sentiment about these three jokers and the many more like them. I remember last March when I was watching CNBC, and noneother than Jim Rogers was on spreading his apocalytic message to viewers. One individual called in and ask his oponion of Intel. Rogers boldly claimed that he was short Intel at $55 . He claimed, of course; that the stock was overvalued ( despite PE of 10) and that prospects were not good (despite 90% market share) and that one would be better off investing in iceburg futures in Switzerland. Well I had a good friend that heeded Roger's advice and sold Intel for a $6 a share loss. After I pointed out to my friend that this joker in a bowtie had been a longtime bear on virtually any domestic stock, he decided to buy the stock back after the 30 days required by the I.R.S.
Well, as you probably guessed, Intel never saw $55 again and my friend turned what would have been a $27,000 gain into a $1800 loss. The moral of this is that following the advice of people like Rogers, Metz and Garzarelli , who are always so negative will, always cost you in the longrun.
I too have contacted CNBC, CNN, and others as to why they continue to showcase these clowns on their programs. But I always get the same response of always wanting to get an expert view from another angle. I feel bad for the people who listened to these doomsdayers and have missed out on the huge gains the rest of us enjoyed. I hope and think that the word has got out about their lack of credibilty, and far fewer people will listen to their eronius lies.
Incidently, I hope that you don't mind that I took some of your past posts to my Investment club meeting? We had to delay the meeting by 10 minutes because none of us could stop laughing! You might want to watch NBR on Friday because one of the good guys (Bob Brinker) will be the guest market monitor. He has been bullish since Dow 1800, and consiquently has made his listeners lots of money!
Sincerely,
Kevin Richard
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