His fund has gotten hammered in 2020 so by all means, write an article about what he thinks is coming up next.
It’s been a year where you cannot help but make money (to this point, anyway) and we’re going to follow someone who’s lost $21B in hopes of what, that he is not the same guy he was in the 1st half of 2020?
Some days it seems the MSfM are just scraping around for stuff to write about.
His fund has lost $21 billion this year — now he’s warning investors could be in for even more ‘turbulence’ this fall
Here is some of the pap:
‘I think there is a slight disconnect between the real economy and the financial markets… We could be in for some turbulence this fall as things unfold, and whether or not the coronavirus pandemic recedes, or gains some force.’
Also from MarketWatch…
Why investors should sell stocks now to get ready for the big rally that’s coming
I am not going to say the thesis is incorrect, but I am going to say that this is an irresponsible headline. “Should”? They “should” sell now? On whose authority, Mr. Headline? Yours? Your usually contrary indicating authority?
And then comes Mark Hulbert, he of right-minded contrarian views.
The stock market’s comeuppance is coming, as bullishness gets extreme
I agree with you Mark. The over-bullish comeuppance is coming, but now that MW has you in headlines it may not serve to come up in a convenient time frame.
As we noted in NFTRH 616, among a lot of other over-bullish sentiment indicators flashing high risk (which has been the condition for much of the post-April period) these readings are just that, a condition, not a timer of the next top.
Take the NAAIM, for one example. They just ticked leveraged long (naaim.org). It’s a high risk indicator as these investment managers chase performance.
Take the over-bullish Dumb money back to pre-crash enthusiasm, for another (sentimentrader.com).
Take newsletter writers, in full trend chasing mode (source: yardeni.com).
None of it will mean much of anything until it does. I don’t take it lightly by any means and track these and lots of other indicators every week. But these stupid headlines (bullish and bearish), churned out with regularity by the media are a waste of time and energy.
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