The investing class should have learned by now not to listen to advice from those who want to sell them things. Now that the Dow Jones average has climbed a wall of worry and has risen over 20% from the November low point, look what Bloomberg.com's videos show this morning:
"Cantor's Pado Sees Bull Market for U.S. Stocks in 2009"
"Jeffrey Saut (Raymond James "Strategist") Says 'Worst Has Been Seen' for Stocks"
"Vitner (Wachovia) Sees 'Definitive Bottom' for Home Sales in 2009"
and
"Jim O'Neill (Goldman Sachs) Says Governments to Lead Way to Recovery"
Bakers are telling you that bread, cakes and cookies are good for you. You will be wise to ignore them. When stockbrokers want to purchase inventory, they will tell you that you should disgorge the same securities they now want you to buy. What you should do with merchants of empty calories is what you should do with these guys. You shouldn't look at their advertising. There is a reason that Bloomberg.com and other financial portals are free. That is because they are advertising. Just as food advertising has helped make America wildly obese, so has financial advertising helped make America financially unfit.
What's good for these guys is probably not good for you.
No comments:
Post a Comment