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Januar 2009 M D M D F S S « Dez Feb » 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 Archives
Where will the DAX end up Dec. 31st 2009
Januar 7th, 2009 at 10:42
Good article, thanks for posting. I always enjoy reading Paul Farrell. He might have included two other stock market “experts” who made notably lousy predictions: Louis Rukeyser, and Elaine Garzarelli, both of whom were notably bullish at precisely the wrong times. Rukeyser basically pooh-poohed the early days of what turned out to be the massive Tech Bubble collapse of 2000 as being a mere hiccup, nothing to get worried about. And as for Garzarelli, famous for predicting the 1987 Wall Street market crash, here’s a snippet of Garzarelli on “Nightly Business Report,” April 20, 2007 (nearly 20 years later), right as the U.S. housing meltdown was beginning in earnest:
(Interviewer) KANGAS: You’re still quite bullish?
(Guest Market Monitor) GARZARELLI: Definitely, best economy I’ve ever seen.
KANGAS: When you were here last in October, you said the housing slump was basically over, but it has gotten a bit worse hasn’t it and has it bottomed finally?
GARZARELLI: Well, the mortgage rates are down, 30-year mortgage rates down 100 basis points and I think housing now is flattening out and it should start to turn up later this year in 2008, modestly.
Januar 7th, 2009 at 11:05
Modestly???
Long time, I heard from her … modestly said