just got here from the ASX general thread, where someone else posted some Dent musings......as for eerily accurate, here's what i wrote word for word:
Sido
pls don't post anything Harry Dent writes on hotcopper. HS Dent is an absolute TOOL. Let me give you some background on Mr Dent and his track record:
- He predicted the DOW would hit 40,000+ in 2008. He was off by a mere 30,000 points. This was in 1999 in his first book i beleive.
- In this book he also raved about the NASDAQ and tech stocks. It lost about 70-80% of it's value a few years later.
Getting the picture yet.......????
If not here's some more:
- He published a book called "The Next Great Bubble Boom: How to Profit from the Greatest Boom in History: 2006-2010", where he predicted the dow 40,000+ by 2009. Couldn't have been further of if he tried........
All Dent does is make squillions of predictions and get a handful right....anyone on here can do that.....most have been shockingly wrong.
When he ran a mutual fund (Dent Demographics Trends Fund) it woefully underperformed the market. Looking at anyones predictions is useless. No one can ever consistently predict markets or economies. The best you can do in times like this is to hold a large % of cash, and gradually put some in on day's like today where you might be comfortable paying $32 dollars for WPL or $57 for COH, but mindful they could drop alot more and it's wise to have cash so you can buy more if that happens.
Personally i'm bearish atm. I think Martis is right in saying tm's action will be very important. If we slide agains tm we could be retesting that recent low in no time.....that's where the high cash reserve comes in.
Personally i'll be using Dent as a contrary indicator!!!!
i hope Dent is right and property is smashed, but his past predictions do not inspire any confidence.
