Quote:
Originally Posted by RougeUnderoos
In one article I read today (on BBC I think, I can't find the quote) some bigwig from Oppenheimer Funds said "this will be the worst post-war recession".
If I wasn't a few rungs below a "rank amateur" when it comes to this stuff, I might think the guy is either trying to make everyone else panic so he can make money off it or he's trying to cover his own ass.
EDIT: it's in here...
http://www.bi-me.com/main.php?id=16683&t=1&c=33&cg=4
Unfortunately they have no power to reverse what in my opinion is the worst post-war recession," said Michael Metz, chief investment strategist at Oppenheimer in New York. |
It's just a sad fact of life that at any point in a market, you can find an expert thumping the table on one extreme and another guy thumping the table in favour of the other.
Coincidinkly, I happen to remember Michael Metz and confirmed my suspicions with a little googling. A paragraph on his history:
If you don't know Mr. Metz he was a regular on the TV circuit in the mid 1990's sounding the alarm that equities were overvalued. That may or may not have been true but the S+P 500 doubled in his face and he disappeared from the air waves. I thought he lost his job, but I was wrong and he surfaced again in the last couple of years to bring his dour message to new market participants.
http://randomroger.blogspot.com/2004...hael-metz.html
That was written in 2004 and the market is a lot higher today than it was in 2004.
Hey, maybe he finally hits the bullseye. Finally.
Cowperson