I hate to pick on Harry Dent but I just saw this in my feed and had to update it since its so sensational even if your a bit bearish on markets, which I have been (wrongly) since 2012? and I know nothing about macro economics and its correlation (if any) to stock returns, but I digress. Instead of dredging up bad 2017 calls with 2018 only 60ish days away lets look at multi generational bad call which just keeps continuing every year. Harry Dent will be right eventually but so too is a broken clock. Anyway, this is the text:
UPDATED with this 2015 chart embed sent to us via twitter - ouch!
I got your Harry Dent right here pic.twitter.com/AOCqIYH5ykFund Manager Profile: Zhang Hui Of China’s Southern Asset Management
Historically, the Chinese market has been relatively isolated from international investors, but much is changing there now, making China virtually impossible for the diversified investor to ignore. Earlier this year, CNBC pointed to signs that Chinese regulators may start easing up on their scrutiny of companies after months of clamping down on tech firms. That Read More
— HedgedIn (@noalpha_allbeta) March 19, 2015
First the headline: Economist Harry Dent Says To Brace for the 'Economic Winter', Dow Could Plunge 18,000 Points
Harry Dent is known for making bold calls, the well-known economist is now warning investors to prepare for the coming of an "economic winter." Dent said the party is over for the Dow Jones Industrials Average (DJIA) which has seen 54 record closes this year. "We have been bubbling since 2009 – I am projecting that the Dow will go down to 5,000 – 5,500 in the next two to three years," Dent said in an interview on Tuesday. Dent's forecast comes from his latest book, "Zero Hour" in which he says the coming financial crash will "dwarf" the Great Recession and possibly the Great Depression. "We have been putting off winter, it's finally going to hit and it's going to be worse than ever," he warned. The DJIA is up 4.2% for the month of October, while the S&P 500 has gained 2.1% and the Nasdaq Composite has risen 3.1%.
So the Dow will go to 5K? At least thats not as bad as his call for Dow $3k almost 100% upside from there and that was only a couple of years ago - so is Dent getting bullish now? :)
anyway, for more Halloween horror i will excerpt from my June 2017 article on Harry Dent predictions but first i embedded the video for those who want to add to their holiday fears.
Enjoy! Excerpted from here
We will let readers decide if they should trust Dent this one….