Please enlighten us with one of your post over the past (almost) 3 years that has correlated with what the stock market has done over that same period.
Please enlighten us with one of your post over the past (almost) 3 years that has correlated with what the stock market has done over that same period.
Continuing my year end review of predicitons - here's Maserati at the end of 2016. Accurate stuff here.
He likes banks, NFLX, AMZN, and suggests that the year could be a very good one for stocks. And he was right on all that.
Ghost of Igloi wrote:
This one should be filed under the category of "Wild Eyed Optimism." A few minutes ago on CNBC, James Castellini of Castlemark Investments gave his reason for a market up 15% in 2017. He is expecting $140 in S&P 500 earnings for 2017. Someone forgot to tell him that the LTM EPS for 3Q 2016 is $101.46. So he is expecting on 38% increase in earnings by year end 2017.
This is the type of ridiculous statements that no one questions.
Igy
here's Igy on 12/30/16 mocking an analyst for two things:
predicting a +15% gain
predicting $140 in sp500 earnings.
Igy was wrong on the first - SP500 is up far more than 15% this year
but he was right on the second - as far as I can tell, SP500 earnings will be in the $131 range. But I'm not putting in a lot of time figuring out if I am right on the SP500 earnings. I could be wrong there.
Shows you - stock investing is not a math game. Animal spirits trump math.
Here's a gs analyst saying europe stocks should do better than the US. He was right, in dollar terms anyway. Not sure about local currency result.s
Europe up around 25%, US up around 20%.
Score another for Wall Street analysts.
http://finance.yahoo.com/m/cf80a250-f048-3500-85d3-4cb1f52fa9af/goldman-sachs-sees-europe.html
Ah, yes, the DGTD contrarian indicator. I’m becoming more and more convinced that he is a troll. No one could be wrong that often. Could they?
Given the newest market high, I’ll be needing to update our contest numbers. I’ll try to get to that soon.
agip,
Let me respond this way. The original post you said was "mocking" two things; that is wrong. It was one thing, Castellini's expectation that the market would be up 15% on the basis of 2017 S&P 500 EPS of $140 a share. I did not criticize his projection for the S&P 500 being up 15%, which is all to common on Wall Street, double digit up each and every year. So we should be clear on that point first.
Rather, I pointed out in that post that the 2016 S&P 500 Q3 Last Twelve Months (LTM) non-GAAP EPS was $101.46. I gave Castellini a pass for using non-GAAP, which Wall Street uses to inflated earnings, when the GAAP EPS was $89.09 for the same period. So let's see who appears to be very wrong so far. The 2017 S&P 500 Q3 Last Twelve Months (LTM) non-GAAP EPS looks to be close to $118.73 with 97.7% of companies reporting. GAAP EPS is $107.18 for the same period, or about 2% better than the previous record of $105.96 recorded 9/30/2014. Current full year 2017 S&P 500 EPS Wall Street consensus is an optimistic $125.10, more likely to finish closer to $121.00, a far cry from your belief of $131 or Castellini's projection of $140. And "no one questions" projections like Castellini's, even you. Financial advisors question little, just riding the market up or down. It is convenient, or at least appears to be.
I find my criticism of his $140 more the justified and validated in the above data.
"Shows you - stock investing is not a math game. Animal spirits trump math," surely that is not what you intended to say. Return on Investment (ROI )is a mathematical calculation that is used in evaluating all investments. Modern Portfolio theory, on which you rely for your investment models, are all social science calculations using mathematics. Billions are spent by investment firms, pension plans using various mathematical models to evaluate stocks. So, I am assuming you meant, in the short run, valuation models are poor predictors of short term market performance. And on that point I agree. However, valuation models that are strongly correlated with 10-12 year market performance, with better than 90% validity, on average show the market 2.8 times above historic norms. Translated to numbers more relevant to the discussion, that would mean it would take a -64% drop, or to about 950 S&P 500 points just to reach historic norms.
It seems interesting to me that investors as well as advisers take in the prognostications of Wall Street without examining the numbers. Both groups are delusional. Why? Easy answer, Wall Street firms sell more financial products and generate more profits when investors are Bullish. Yet Wall Street was very wrong in 2000 and very wrong in 2007. We'll see who is more right when the market comes full circle.
Igy
Why can't you just admit you were wrong?
Character flaw alert wrote:
Why can't you just admit you were wrong?
I guess you failed reading comprehension on the SAT.
I guess you failed the Humbleness section of Life.
Character flaw alert wrote:
I guess you failed the Humbleness section of Life.
You say that constantly but you have no problem twisting facts and telling lies.
For you it is far worse, you failed the Integrity section of life.
Ghost of Igloi wrote:
Character flaw alert wrote:
I guess you failed the Humbleness section of Life.
You say that constantly but you have no problem twisting facts and telling lies.
For you it is far worse, you failed the Integrity section of life.
Usually you don’t see the irony in these statements of yours, so let me explain the irony here. First you told a lie, then you accused me of lying. Get it? Probably not.
As for your comment regarding my integrity, you would do well to remember the saying about people who live in glass houses.
Character flaw detector wrote:
Ghost of Igloi wrote:
You say that constantly but you have no problem twisting facts and telling lies.
For you it is far worse, you failed the Integrity section of life.
Usually you don’t see the irony in these statements of yours, so let me explain the irony here. First you told a lie, then you accused me of lying. Get it? Probably not.
As for your comment regarding my integrity, you would do well to remember the saying about people who live in glass houses.
You have a habit of threatening me. Why is that? Let’s have it, while you continue to lie under your rock. A nasty Little Rock spider.
Ghost of Igloi wrote:
It seems interesting to me that investors as well as advisers take in the prognostications of Wall Street without examining the numbers.
True for some, but not most. For many, it’s all about the numbers.
OK, numbers: EPS up 2% in three years, market up 30%. Explain the discrepancy.
Ghost of Igloi wrote:
Character flaw detector wrote:
Usually you don’t see the irony in these statements of yours, so let me explain the irony here. First you told a lie, then you accused me of lying. Get it? Probably not.
As for your comment regarding my integrity, you would do well to remember the saying about people who live in glass houses.
You have a habit of threatening me. Why is that? Let’s have it, while you continue to lie under your rock. A nasty Little Rock spider.
Another lie...there was no threat. Just insults from you because you were exposed for what you are.
Sure. Please tell us the great secret exposing who Igy is. And the meantime why don’t you come out from under your rock you scumbag. Tell us why you are the Igy harasser.
Character flaw detector wrote:
Ghost of Igloi wrote:
You have a habit of threatening me. Why is that? Let’s have it, while you continue to lie under your rock. A nasty Little Rock spider.
Another lie...there was no threat. Just insults from you because you were exposed for what you are.
You might want to consider your liability for your continued threats.
https://en.m.wikipedia.org/wiki/CyberstalkingI am the Igy harasser because I don’t like conceited posters who try to dominate the discussion by, in part, undermining what others have to say, and offering knowingly false and misleading information. And your grammatical skills suck.
You might want to. Insider the truth. What threats?
You threaten me and you do it often. You should do yourself a favor and back off. As you know my daughter is an attorney in Boise, and a good one.
I’m a D2 female runner. Our coach explicitly told us not to visit LetsRun forums.
Great interview with Steve Cram - says Jakob has no chance of WRs this year
2024 College Track & Field Open Coaching Positions Discussion
RENATO can you talk about the preparation of Emile Cairess 2:06
adizero Road to Records with Yomif Kejelcha, Agnes Ngetich, Hobbs Kessler & many more is Saturday