I have a daily reading list that I find worthy of my time and attention. Zero Hedge is not among those. If you have something to say, I would be glad to hear it, Igy.
Igy and his brethren don't make points. They just spew the same crap year after year after year after year. They are funny but not in a good way.
Of course you and your brethren don’t daily spread the same bullish crap, which over your time horizon is a huge mistake.
"The big money is not in the buying and selling, but in the waiting."
Yeah, when you consider what he and Warren Buffet have created, it really is a tremendous opportunity for average joes, retail investors small and large, to participate in a unique investment style and through buying shares in their fund, become essentially part owner in a range of businesses. It wasn't just another fund. It was a very particular investment strategy, and originally at least, with a value focus.
I actually listen to Doug Kass - he is one of the more reasonable media guys out there. And a bit unfair to cite this one because he flips short to long and back. But in the end, he went short just before a nice rally. Just two weeks before a strong rally, and the market was never much lower than when he shorted it. And now we're 10% higher. But as I said, he might have reversed this call quickly.
Dougie Kass @DougKass On @realmoney on Tuesday we issued a four part "Market Outlook" which outlined why we have moved into our largest net short exposure of the year - and why we believe the S&P has topped or is close to topping for the year. "We view the outlook for equities unfavorably - both in absolute terms and relative to bonds. Risks are now multiplying... "
Well, we are on the last day of November 2023, and let's remember what our resident permabear said back in February:
...from 2/23/2023:
"Ghost of Igloi wrote: The period of S&P 500 companies over earning has ended. Stimulus, low interest rates done, higher labor costs, margins shrinking. Last year 2022 GAAP EPS down to $171. I expect by Q3 2023 the previous 52 week number to be in the $150s. Hard to see a year end 2023 S&P 500 much above 3,000, even without a recession.
Flagpole wrote: Permabear.
Ghost of Igloi wrote: Agip, if you don’t mind bookmark this for year end review."
So, let's see where the S&P 500 sits today...4,555.62 as of 10:15 AM Eastern. When Igy made his pontification, the S&P 500 stood at 3,991, so instead of falling about 25% since then as he predicted, it has instead risen about 14%. Pretty far off so far, BUT there's one more month to go, so we will get the final word next month!
Well, we are on the last day of November 2023, and let's remember what our resident permabear said back in February:
...from 2/23/2023:
"Ghost of Igloi wrote: The period of S&P 500 companies over earning has ended. Stimulus, low interest rates done, higher labor costs, margins shrinking. Last year 2022 GAAP EPS down to $171. I expect by Q3 2023 the previous 52 week number to be in the $150s. Hard to see a year end 2023 S&P 500 much above 3,000, even without a recession.
Flagpole wrote: Permabear.
Ghost of Igloi wrote: Agip, if you don’t mind bookmark this for year end review."
So, let's see where the S&P 500 sits today...4,555.62 as of 10:15 AM Eastern. When Igy made his pontification, the S&P 500 stood at 3,991, so instead of falling about 25% since then as he predicted, it has instead risen about 14%. Pretty far off so far, BUT there's one more month to go, so we will get the final word next month!
Well, we are on the last day of November 2023, and let's remember what our resident permabear said back in February:
...from 2/23/2023:
"Ghost of Igloi wrote:
Flagpole wrote: Permabear.
Ghost of Igloi wrote: Agip, if you don’t mind bookmark this for year end review."
So, let's see where the S&P 500 sits today...4,555.62 as of 10:15 AM Eastern. When Igy made his pontification, the S&P 500 stood at 3,991, so instead of falling about 25% since then as he predicted, it has instead risen about 14%. Pretty far off so far, BUT there's one more month to go, so we will get the final word next month!
His prediction was way wrong? No problem ... this is what he will predict on 2/23/24:
The period of S&P 500 companies over earning has ended. Stimulus, low interest rates done, higher labor costs, margins shrinking. Last year 2023 GAAP EPS down to $171. I expect by Q3 2024 the previous 52 week number to be in the $150s. Hard to see a year end 2024 S&P 500 much above 3,000, even without a recession.
Well, we are on the last day of November 2023, and let's remember what our resident permabear said back in February:
...from 2/23/2023:
"Ghost of Igloi wrote: The period of S&P 500 companies over earning has ended. Stimulus, low interest rates done, higher labor costs, margins shrinking. Last year 2022 GAAP EPS down to $171. I expect by Q3 2023 the previous 52 week number to be in the $150s. Hard to see a year end 2023 S&P 500 much above 3,000, even without a recession.
Flagpole wrote: Permabear.
Ghost of Igloi wrote: Agip, if you don’t mind bookmark this for year end review."
So, let's see where the S&P 500 sits today...4,555.62 as of 10:15 AM Eastern. When Igy made his pontification, the S&P 500 stood at 3,991, so instead of falling about 25% since then as he predicted, it has instead risen about 14%. Pretty far off so far, BUT there's one more month to go, so we will get the final word next month!
What is your prediction for the end of this year and the end of next? It’s easy to not make a prediction and then mock those who do. Yes, I get that you are a permabull, but what is your ye target for 2024?
Well, we are on the last day of November 2023, and let's remember what our resident permabear said back in February:
...from 2/23/2023:
"Ghost of Igloi wrote:
Flagpole wrote: Permabear.
Ghost of Igloi wrote: Agip, if you don’t mind bookmark this for year end review."
So, let's see where the S&P 500 sits today...4,555.62 as of 10:15 AM Eastern. When Igy made his pontification, the S&P 500 stood at 3,991, so instead of falling about 25% since then as he predicted, it has instead risen about 14%. Pretty far off so far, BUT there's one more month to go, so we will get the final word next month!
His prediction was way wrong? No problem ... this is what he will predict on 2/23/24:
The period of S&P 500 companies over earning has ended. Stimulus, low interest rates done, higher labor costs, margins shrinking. Last year 2023 GAAP EPS down to $171. I expect by Q3 2024 the previous 52 week number to be in the $150s. Hard to see a year end 2024 S&P 500 much above 3,000, even without a recession.
At the moment I am concerned about the poster that smokes too much dope and needs to return to rehab.
His prediction was way wrong? No problem ... this is what he will predict on 2/23/24:
The period of S&P 500 companies over earning has ended. Stimulus, low interest rates done, higher labor costs, margins shrinking. Last year 2023 GAAP EPS down to $171. I expect by Q3 2024 the previous 52 week number to be in the $150s. Hard to see a year end 2024 S&P 500 much above 3,000, even without a recession.
At the moment I am concerned about the poster that smokes too much dope and needs to return to rehab.
Feels good being up about 15% year while you’re down. hahahahah. Better get on a few more threads and tell lame stories about yourself from 40 years ago that weren’t impressive to people even then. Whatever makes you feel better ugly slow dork :D.
This worked out very well. SP500 +9%ish! in November.
Seth Golden @SethCL Fun fact for November bears 🐻 S&P has not been down 4 consecutive months since 1946. August - October down now 3 consecutive months. I like November’s odds! $SPX $SPY $QQQ $DIA $VIX 9:15 AM · Nov 1, 2023 · 12.9K Views