Wow, so I listened to a Chief Global Strategist give his opinion on everything going on in the markets and I felt like he had no idea what he was saying. I won’t say his name but he worked for Wheaton and Co.
He referred to vultures circling very high right now but not swooping in for the kill yet. Vultures don’t kill their prey, they eat dead animals.
He said the S&P500 might go down to 1750 but not any further down. That means he thinks in this economic downturn the market will only go down 17%, really? Most of the world’s equity is already lower than that.
He sure stuttered a lot, he sounded nervous. Would you take the advice of anyone who stutters and sounds nervous? (assuming he doesn’t have a speech impediment)
He said there will be more pain in Houston, referring to the oil crash getting worse and continuing. Considering I work in that industry and in that city, I really don’t think it could get ‘much worse’ and oil stocks have generally bottomed out around 40% from their highs for a couple months now. The ‘rich, evil, planet-hating, reckless oil mongers’ are still that. High ranking officers who do get ‘laid off’ probably leave with wonderful severances. Of couse most are normal, good people.
If I disagree with your Chief Global Strategist, and I turn out to be more correct and knowledgeable than him, may I have his job or become his supervisor? jk
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