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Poster: Here is the unfortunate truth
Subject: RE: Dow to close 2011 at 13,000 or above
Body:


Flagpole wrote:

[quote]Here is the unfortunate truth wrote:

Look dude, there is apparently a sizable fraction of the letsrun community that, for financial advice, looks to someone who does not understand how to calculate a rate of return, believes in the mystical advantage of dollar cost averaging, repeatedly makes predictions that do not come true, is unable to admit his errors, and has been caught in a bald faced lie about his own investment returns. Oh yeah, he also believes in Bigfoot.


1) Can I calculate a return? YES.

2) Believes in dollar cost averaging? Not necessarily. I invest that way because it limits RISK, not that it potentially gives you better returns.

3) Unable to admit errors? I do that all the time here. Just for starters, the last two years I made end-of-year calls on where the Dow would be and I missed it both times and fully admitted I had it wrong, EVEN when some last year wanted to say I was right just because I was off by only 16 trading days...I maintained that I was wrong.

4) Been caught in a bald faced lie about my own investment returns? Um...nope. Sorry brother...just because you think I couldn't have gained what I did doesn't mean I didn't.

5) Believes in Bigfoot? The short answer to that is NO. Am I open-minded enough to consider it's a possibility when scientists discover new even large animals all the time and as early as the early 1900s the Giant Panda was thought to be a myth? Yep. I will NOT believe it though until I see it.

Try again brother.[/quote]

Hey, thanks for the laughs.
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