Your Survival Guy received some Christmas emails asking about a certain economist’s stock market prediction that the bubble’s about to burst.
My take? Why ruin Christmas? Maybe he’s right, maybe he’s wrong. What I know for sure is he’s in the business of selling books and making headlines. That’s not acting like a fiduciary.
I remember back in 1998 when this same economist wrote a book calling for the roaring 2000s. The roar turned out to be the sound from investors pummeled by the tech bust a few years later.
Then he called for, in 2004, another boom to come, taking a pass on the most recent foul ball. That boom turned out to be shrapnel from the housing crisis that ruined investors for a generation.
Not to lose stride, the same Mr. Nostradamus called for the 2010s to be a bust instead of the Fed-fueled boom that occurred. Another boat missed. Do you see the trend?
Now, he’s calling for a stock market bust. You know what they say about a broken clock.
If investors simply came up with a plan all those years ago and stuck with it, they wouldn’t have to worry about whether we’re going to see a boom or a bust.
Your Survival Guy’s been invested and operated as a fiduciary all through the years of this prediction and that. And I’m here to write; I’m still working side by side with you, dear readers.
Action Line: When a prognosticator is in the business of selling books and headlines, be careful to check your emotions at the door. If you’re worried, let’s talk about building a plan.
E.J. Smith - Your Survival Guy
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