I'm holding him to it.
Sour grapes? does he need medication?
he has guts for making the call...
I don't know if it counts for anything.... but there are about 40X as many bottom callers than there were in july
Friday, September 19, 2008
Barry calls for 1929
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3 comments:
Im not calling for 1929, I am pointing out that this is the biggest 2 day Dow rally since 1929.
Last time, we had a rally and a selloff. I expect a rally and selloff this time too -- just not an 85% drop.
BTW, we made 2 Bullish calls earlier this week:
Fear Returns to the Markets
http://bigpicture.typepad.com/comments/2008/09/fear-returns-to.html
and
50% Retracement of 2002-2007 Rally
http://bigpicture.typepad.com/comments/2008/09/50-retracement.html
I've said this before and I'll say it again. Barry Ritholtz does not need any defense from me, but since I have been reading his macroeconomics blog he has been dead on correct.
In the two years I've been logging on, he has been outspoken against the Ponzi scheme present in the equity markets. If I had sold every long holding and put my stash in Treasuries, I'd be about 11% higher than the S&P.
Also, in his defense, he has a quant site with both long and short ideas for day to day trading. The Big Picture is a macro site and, while I understand that even a stopped watch it correct occasionally, Barry has been correct for as long as I've been reading him.
And He called for "an interesting bounce" which we have had.
and this bullish call.
"The only question for traders is whether or not this sell off is closer to the ones seen over the past 2 years (in which case you can buy 'em here) or more like the 2000- 03 period (in which case we have more selling to go)."
So, to be clear, "bounce", "maybe higher", "Can buy them", "May need to wait"
hard not to be correct with that kind of "shotgun" opinion.....
Or, one of the calls will be right, and you can say 2/3rds Wrong. Or was that 4 calls, 1/4 correct.
I'm not sure I have time to Un-Dissemble.
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