Mohan,
I lurk both the bullish and bearish threads. I don't post on the bullish threads that often because there is nothing to be gained by agreeing with yourself!! It is through observing the opposing view that you can either confirm or change your convictions.
As to what CNBC said about Rubin, I can't care less. As far as I am concerned, he was a more than decent treasury secretary , but certainly not Alexander Hamilton!! Although they obviously worked under different metrics.
What you call "the majority" praises Joey because he has made the right market call the past few years. Everyone is in this market to maximize returns. Nobody is in it to look smug or different. The fact of the matter is that, when dealing with large sums of money, you simply can not compete unless you make the right call on market direction. You can try a hundred little cute trades and strategies but you will still be dead meat Vs. the index funds. That is a fact , pure and simple. Joey has made the right call and that is why he is being praised. Now, someday, Mr. Fleckenstein will have the right call on direction and then he will be praised but until then this " brainless", "bagof donuts" nonsense smells of bizarro's world where up is down and good is bad!! It also shows one's frustrations with one's own market call.
same argument with Abbey. Until she is wrong on her call, she will be on the pedestal and there is nothing anyone can do about it.
You can scream "bubble, bubble" as much as you wish, but that does not change the fundamental fact here, i.e. The bear call on market direction has been wrong so far. Now , someday, eventually , we will see a bear market and those that are not prepared for it will get burned but that does not change the fact that so far, the abbey and Joey crowd have been right and your crowd has been wrong. |
