Everything written by the financial media has an agenda behind it. And it often ends up with money coming out of your pocket. Don’t ever forget that.
As a reminder, you can find our weekly podcasts on iTunes. Simply head over to the iTunes Store and type in “mullooly.” You can also listen to podcasts right on our web site.
In 2008, when oil crossed $130 (on its’ way to $147 a week later), “experts” predicted we’ll see $200 per barrel “by the end of 2008.”
Within weeks, oil was below $100 and ultimately dropped under $40.
When the S&P500 dropped below 700 in early 2009, more “experts” were predicting the S&P500 “could” get as low as 500. Weeks later the S&P500 bottomed at 666 (a devilish number) and hasn’t really looked back.
The S&P today? 1300.
In 2010, when Greece was melting and some other European countries were reportedly on thin ice, the “future of the euro” was being questioned. Soon the euro broke $1.20, and again, “experts” declared the euro would drop below $1.00. The Euro’s very existence as a currency was being called into question.
Why did we ever start this euro currency anyway?
People openly discuss the strength of the euro compared to the US Dollar. And the Euro moved back above $1.40 a few months later. No predictions on the future of the currency, however.
Shall we talk about this oil mess?
I’m not very good at predicting things, but when I hear “experts” say we “need to get used to seeing $5.00″ for a gallon of gas, I start wondering if these were the same experts who predicted $200 barrel in 2008, the end of the stock market in 2009 and a currency wipe-out in Europe in 2010.
Maybe it’s not the same group of experts. But they sure sell a lot of newspapers.
I’ve said it before, but it is worth repeating…
Everything written by the financial media has an agenda behind it. And it often ends up with money coming out of your pocket. Don’t ever forget that.
If you are relying on a blog post for specific investment advice, you are making a huge mistake. Please speak with an investment adviser before making ANY investment decisions.
If you do not have an investment adviser, we encourage you to contact Mullooly Asset Management at 732-223-9000, or through our website.
Under no circumstances should the content discussed on this post be considered specific investment advice.
What Do The “Experts” Know?
by Thomas Mullooly on July 6, 2011
Everything written by the financial media has an agenda behind it. And it often ends up with money coming out of your pocket. Don’t ever forget that.
As a reminder, you can find our weekly podcasts on iTunes. Simply head over to the iTunes Store and type in “mullooly.” You can also listen to podcasts right on our web site.
In 2008, when oil crossed $130 (on its’ way to $147 a week later), “experts” predicted we’ll see $200 per barrel “by the end of 2008.”
Within weeks, oil was below $100 and ultimately dropped under $40.
When the S&P500 dropped below 700 in early 2009, more “experts” were predicting the S&P500 “could” get as low as 500. Weeks later the S&P500 bottomed at 666 (a devilish number) and hasn’t really looked back.
The S&P today? 1300.
In 2010, when Greece was melting and some other European countries were reportedly on thin ice, the “future of the euro” was being questioned. Soon the euro broke $1.20, and again, “experts” declared the euro would drop below $1.00. The Euro’s very existence as a currency was being called into question.
Why did we ever start this euro currency anyway?
People openly discuss the strength of the euro compared to the US Dollar. And the Euro moved back above $1.40 a few months later. No predictions on the future of the currency, however.
Shall we talk about this oil mess?
I’m not very good at predicting things, but when I hear “experts” say we “need to get used to seeing $5.00″ for a gallon of gas, I start wondering if these were the same experts who predicted $200 barrel in 2008, the end of the stock market in 2009 and a currency wipe-out in Europe in 2010.
Maybe it’s not the same group of experts. But they sure sell a lot of newspapers.
I’ve said it before, but it is worth repeating…
Everything written by the financial media has an agenda behind it. And it often ends up with money coming out of your pocket. Don’t ever forget that.
If you are relying on a blog post for specific investment advice, you are making a huge mistake. Please speak with an investment adviser before making ANY investment decisions.
If you do not have an investment adviser, we encourage you to contact Mullooly Asset Management at 732-223-9000, or through our website.
Under no circumstances should the content discussed on this post be considered specific investment advice.
{ 0 comments }