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Okay. Vintage Freak says S&P 500 goes to 2100. Now who's going to make me famous?
!@#$%^&*
These guys suffer no repercussions if they are wrong. They can always blame someone else and provide a thesis if their target is not met. And by mistake it is met? Oh man...sky is the limit.
Reply to @Desota: I'm not disrespecting anyone. I'm simply saying making claims you don't have to suffer consequences off shouldn't be made. If I knew Birinyi had substantial assets, say 60% of his net worth in S&P 500, I would put him on a pedestal. Idle predictions should not be made.
I also need to point out that calling bottom when market has lost 50% of its value is not genius. It is calculated risk for making predictions coming through. If he had made call in 2009 in 5 years S&P would hit 2000, then THAT would be something. OBummer and the fed is going to pull out all stops to make sure market keeps rising into 2015. Making this prediction now is another calculated risk.
Finally, when market goes to 2100, please give me credit. 66% of my retirement account is in equities. I'm making the call putting my money where my mouth is.
Birinyi made some good calls on Wall Street Week. If I remember correctly, he won the pick the Dow close contest (one-year ahead, without changes) two years in a row. He's a bright guy, but the prediction business is fraught with risks that humble even the brightest.
Birinyi strikes me as trustworthy. Doesn't seem to overtly push his views but is willing to give an answer whenever he is asked (which is frequently as he has a good track record.) Doesn't mean he is right this time but I'm glad he offers his company view for free for all to consider.
Comments
!@#$%^&*
These guys suffer no repercussions if they are wrong. They can always blame someone else and provide a thesis if their target is not met. And by mistake it is met? Oh man...sky is the limit.
I also need to point out that calling bottom when market has lost 50% of its value is not genius. It is calculated risk for making predictions coming through. If he had made call in 2009 in 5 years S&P would hit 2000, then THAT would be something. OBummer and the fed is going to pull out all stops to make sure market keeps rising into 2015. Making this prediction now is another calculated risk.
Finally, when market goes to 2100, please give me credit. 66% of my retirement account is in equities. I'm making the call putting my money where my mouth is.