It's still disappointing and yet entertaining how very few have figured out that no one, Whiteny included, can accurately predict the future on a consistent basis. In fact, even when their predictions are proven true, they didn't so much "predict" the future as they "guessed" it. It's like someone with a coin says "I'm going to flip this coin 10 times, and you need to guess whether it will come up heads or tails". The odds of one person doing it are 1 in 1024. But if you have a large number of participants, there's a good chance that someone will "predict" the head/tail combination correctly 10 times in a row. And so it is what analysts and the market. There is such a large number of them, and they are consistently predicting things. Eventually, one of them gets it right. But, just like the coin toss example, do you think the person who guessed right in the 10 flip experiment is any more likely than anyone else to get it right again if a second 10 toss experiment is run?? HOP
Yes, they guess. If they stay around long enough they will be right. Then will pretend that they had insight. When they are wrong you won't hear from them. How many years did Peter Schiff say the market was falling before it really did?
Just make your prediction for the market to go up or down and wait. Someday you will be right. Then you can go on CNBC and say "Told you so".
this is why many analysts pick a side, im a bear, im a bull, that way they have at least a 50/50 shot at being right. either way id bang her on any downtown nyc bus while holding a "buy" sign, and when i was done, id flip it around to the "sell" side.