I honestly don't know why people even listen to these guys. Before the market made new highs around oct-nov... I distinctly remember PIMCO, the biggest fund in the bond market, coming in and saying about how we're headed of to a new recession, and this is the " NEW NORMAL".... etc...
Then Goldman Sachs came and said they were bearish on the economy, and their outlook is unfavorable.
No more than 3 weeks later, market just took off. Right afterwards, they became bullish again and said it was because of QE2...
Its gonna be very easy for me as well to come here and to call a top, and then when it fails, say, BUY BUY BUY, AFTER its gone up. Or say sell, AFTER its gone down.
Its truly amazing how most people have such short term memory. Anyways, sometimes its interesting to note what they say or what they're looking at , but I would NEVER make any investment decision based off their commentary.
As a side note... 3 weeks after QE2, Goldman came and said that people should front run the FED, which is what they were doing the whole time. Right afterwards, it stopped working.
Goldman, or any other fund, will never publicly come in and tell you what they're doing, because they would not get a favorable price if everyone is buying with them. Just think about that.
CNBC, which stand for "completely nonsense business channel", has always been, and ALWAYS will be a medium for these big funds and banks to come and give disinformation to the mass public. Just look at what happened during the last meltdown. EVERYTHING they said was false. Every CEO that was going bankrupt came in that show to say how everything was ok, and everyone would believe them.
I again, don't think we're headed into another recession yet, however, I would not buy up here either if your not already long. Most people lost their opp a long time ago to get in this market. I personally would wait for the market to come in a bit more if I were to buy anything, instead of buying new highs.
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