89 year old Joe Granville predicts 4000pts Dow fall in 2 weeks

The title seems to be a bit misleading here. Joe Granville was predicting a total drop of 4000 pts by the end of this year, not in 2 weeks.

yeah Dan, think i made a mistake there. thanks for highlighting to me.

Those who spend time predicting markets obviously do not allocate sufficient time to analyze companies and businesses. That includes this Joe guy.

if he has done it since the 1940s he must be doing something right!

“Granville is probably best known for his bearish market calls during the 1970s, 1980s, and 1990s, when he claimed that the stock market was headed for imminent collapse. His overall track record, according to the Hulbert Financial Digest, is very poor.

The Granville Market Letter “is at the bottom of the Hulbert Financial Digest’s rankings for performance over the past 25 years – having produced average losses of more than 20 percent per year on an annualized basis.” [3]”

http://en.wikipedia.org/wiki/Joseph_Granville

haha thats crazy. how come bloomberg got him on the show?

He has been on the mark for bearish. However, all we can do is wait and see. Holding more cash is maybe the preferred choice now.

Thanks Jim for the Wiki link. Apparently once a poseur, always a poseur, even at 89 years of age. Some people apparently never learn.

Instead of listening to all sort of predictions and forecasts, we should be preparing our portfolio to run with bull and bear. When the Bull continues to run, we have stocks to run with it and if the bear comes we have enough cash to buy in slowly.

uncle abit right there

The fact is, if someone just sticks to one message and is always bearish, then when the market goes up he can say “I’m glad I was wrong” and when the market crashes he can say “see I told you so”.

yup!