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This is a great article. It shows you why you should never, ever listen to economists or market strategists forecasts of the stock market. I remember some of these comments at the time they took place. as emotionally tasking as it was I was buying all the way down from the collapse of lehman brothers until March 2009. I happened to get some stocks at their lows.
The point of this article is ignore the noise. The more you watch TV and listen to analyst forecasts the less likely you are to be in investing. The best advice I can give, and this advice will never change is look for stocks that are cheap. Ignore economic conditions. In fact you are much more likely to make money in stocks when the economy is awful than when the economy is roaring. Remember the big money was made in March 2009 when everyone thought we were going into a depression, and the most money was lost in 2000 and 2007 when the economy was booming.
The most laughable prediction comes from Cody Willer of Fox Business News. On March 12,2009 before the S&P 500 went on about a 70% run he stated
“I still do expect that the 6k-7500 range is probable here for the foreseeable future. And guess what — as I noted at the top of this article, we’re now closer to the top of that range than the bottom of that range. So if you caught any of this rally at all, I think it’s probably time to go ahead and take a good chunk of that 10% move you just caught off the table and wait for the next fat pitch, which will likely come in one of two forms:
Everyone should read the following article. It is not only a good laugh it also teaches a valuable lesson.
The Complete Guide To Every Genius Who Got This Ridiculous Rally Completely Wrong