I do not get a chance to write much but could not resist this one – and it is not only for the Schadenfreude but it also teaches an important lesson about investing which is old but must be repeated over and over and over. I have no doubt Harry Dent is a brilliant person and knows a lot more about finance than I do. I also assume that even though he has conflicts of interest (we all do) he is sincere in his believes just as he was when he was bullish. That said it is important to realize no matter how intelligent one is you can not predict the future! Case in point….
I want to thank Jeff Miller of Dash Of Insight for highlighting my 2013 column on the topic and awarding it a Silver Bullet which inspired me to update despite it being a very busy day here! No now we are doing the 2017 as this headline just popped up – we will add in a few more dates. Also I assume Dent is sincere but he is also trying to sell a new book FWIW.
Anyway below is a copy of my post from 2013 with minor edits and new charts for 2014-2017! I wont get into how the 2013 call was wrong since
The story on Wall Street and CNBC continues to be that we’re in a correction and this is a buying opportunity. Even Warren Buffett joins the chorus of stock market cheerleaders for the skeptical public. Well, I agree with the skeptical public, not the experts here!
The bull market from early 2009 into May 2015 looks just like every bubble in history, and I’m getting one sign after the next that we did indeed peak last May.
I’ve been telling our Boom & Bust subscribers for months now that the dominant pattern in the stock is the “rounded top” pattern I show in the chart below:
And he is selling a product also which can help you prepare for it!
World-renowned economist Harry Dent now says, “We’ll see an historic drop to 6,000… and when the dust settles – it’ll plummet to 3,300. Along the way, we’ll see another real estate collapse, gold will sink to $750 an ounce and unemployment will skyrocket… It’s going to get ugly.”
Considering his near-perfect track record of predicting economic events long before they occur, you need to take action to protect yourself now. Get the full details…
Not sure what near perfect track record they are referring to but alright…
Also, Buffett is usually bullish so not sure what “even Buffett has joined the chorus” means….
And here is more Harry Dent and a nice chart or pic we made ourselves. We will let readers decide if they should trust Dent this one….