Came across it somewhere on the net. If these experts (so called) can make such dumb mistakes then so can we..
Does that mean we are also expert ? (I would rather give up such expert title)
I am sure there will be enough such examples in our market too.
Anyway, Enjoy it..
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1. "We have hit bottom. "
- Any Week between Jan. 2 and mid-September
Approximately 14,117 analysts all of whom have been interviewed on CNBC, Fox Business or the fifth-grade weekly television show at the Herbert Hoover Elementary School.
2. "GM has bottomed GM is a buy here."
Feb. 18, 2008
3. "Investors can now buy bank stocks at their cheapest levels in almost two decades the last time an opportunity of this nature existed to buy bank stocks this cheap was in 1990 . the next time will be in 20 years. This is a once-in-a-generation opportunity."
March 10, 2008
4. "Bear Stearns is a buy at these levels, and we are buying."
Friday, March 14, 2008
Bill Miller of the Legg Mason Value Fund (LMVFX), not an analyst but a money manager, clearly does little or no analysis. He bought when Bear Stearns hit around $30. On Monday, March 17 -- St. Patricks Day -- the company was acquired for $2 a share.
5. "Successful efforts by authorities to restore liquidity and the orderly functioning of financial markets, along with the massive amount of policy stimulus that has already** been applied ... are expected to lead to a modest recovery in the U.S. economy in the second half of the year."
March 20, 2008
Larry Kantor, resident genius and head of research at Barclays Capital.
6. "Chinese growth will be 9.4% in 2008."
April 1, 2008
The World Bank. Who cares, there are still a billion and a half of them, right? Gotta buy something, right? "Oops, Chinese growth in 2008 will end up at 7.5%." Same guys at the World Bank working 20 hours a week in between first-class flights home.
7. "We are buying more of Freddie Mac, we bought another 30 million shares."
September 2008
Bill Miller, Legg Mason Value Fund no analysis again. One week later you and I -- through our servant Hank Paulson -- took over Freddie (FRE) and Fannie Mae (FNM).
8. "Our forecast is $149 a barrel for U.S. crude oil .strong fundamentals were a more important factor than a strengthening dollar."
Aug. 20, 2008
Goldman Sachs (GS). Well, they only missed it by a $100 a barrel -- matches the rest of their performance this year. "Oops, sorry, oil will be $70 a barrel by year-end. And it could hit $50," said the same group of geniuses two and half months later.
Does that mean we are also expert ? (I would rather give up such expert title)
I am sure there will be enough such examples in our market too.
Anyway, Enjoy it..
------------------------------
1. "We have hit bottom. "
- Any Week between Jan. 2 and mid-September
Approximately 14,117 analysts all of whom have been interviewed on CNBC, Fox Business or the fifth-grade weekly television show at the Herbert Hoover Elementary School.
2. "GM has bottomed GM is a buy here."
Feb. 18, 2008
3. "Investors can now buy bank stocks at their cheapest levels in almost two decades the last time an opportunity of this nature existed to buy bank stocks this cheap was in 1990 . the next time will be in 20 years. This is a once-in-a-generation opportunity."
March 10, 2008
4. "Bear Stearns is a buy at these levels, and we are buying."
Friday, March 14, 2008
Bill Miller of the Legg Mason Value Fund (LMVFX), not an analyst but a money manager, clearly does little or no analysis. He bought when Bear Stearns hit around $30. On Monday, March 17 -- St. Patricks Day -- the company was acquired for $2 a share.
5. "Successful efforts by authorities to restore liquidity and the orderly functioning of financial markets, along with the massive amount of policy stimulus that has already** been applied ... are expected to lead to a modest recovery in the U.S. economy in the second half of the year."
March 20, 2008
Larry Kantor, resident genius and head of research at Barclays Capital.
6. "Chinese growth will be 9.4% in 2008."
April 1, 2008
The World Bank. Who cares, there are still a billion and a half of them, right? Gotta buy something, right? "Oops, Chinese growth in 2008 will end up at 7.5%." Same guys at the World Bank working 20 hours a week in between first-class flights home.
7. "We are buying more of Freddie Mac, we bought another 30 million shares."
September 2008
Bill Miller, Legg Mason Value Fund no analysis again. One week later you and I -- through our servant Hank Paulson -- took over Freddie (FRE) and Fannie Mae (FNM).
8. "Our forecast is $149 a barrel for U.S. crude oil .strong fundamentals were a more important factor than a strengthening dollar."
Aug. 20, 2008
Goldman Sachs (GS). Well, they only missed it by a $100 a barrel -- matches the rest of their performance this year. "Oops, sorry, oil will be $70 a barrel by year-end. And it could hit $50," said the same group of geniuses two and half months later.