What Was That Sound?

[hblask 1]

I'll stand by my main points which were:1. Information that is well-known is not some news flash. Lots of people were predicting this, most people were ignoring it.2. Picking a market top or bottom in housing or any other market is a loser's game, like saying you are "due" to be dealt AA. 3. Basing investment decisions on internet forum rants is a loser's games.People started predicting housing crashes as far back as 2000, just as they started predicting the tech crash 5 years early. Eventually, they'll be right.I have some predictions:1. The stock market will set new records.2. Housing prices will reach new highs.3. Stock prices will recede from their record highs4. Housing prices will recede from their high point.If I post this every few weeks for the next 20 years, do I get credit for my great foresight?

[BigDMcGee 3,353]

I'll stand by my main points which were:1. Information that is well-known is not some news flash. Lots of people were predicting this, most people were ignoring it.2. Picking a market top or bottom in housing or any other market is a loser's game, like saying you are "due" to be dealt AA. 3. Basing investment decisions on internet forum rants is a loser's games.People started predicting housing crashes as far back as 2000, just as they started predicting the tech crash 5 years early. Eventually, they'll be right.I have some predictions:1. The stock market will set new records.2. Housing prices will reach new highs.3. Stock prices will recede from their record highs4. Housing prices will recede from their high point.If I post this every few weeks for the next 20 years, do I get credit for my great foresight?

HE brought up specific points though, that ended up being correct, and was way ahead of the curve on it, I think you guys treated him rotten for no good reason.

[hblask 1]

HE brought up specific points though, that ended up being correct, and was way ahead of the curve on it, I think you guys treated him rotten for no good reason.

I didn't say he was wrong, just that 90% of his links were from mainstream publications such as Money magazine and the WSJ, and his insistence that he had The One Truth was over the top. I didn't see him on here back when CATO and Ron Paul first start giving warnings, it was only a couple of years later. I do have to give him credit, he acted on his beliefs with commitment and decisiveness. I had the same feelings as he did about real estate; I invested anyway in the name of diversity. I had a feeling gold would do what it has since then, but didn't have the balls to make any major moves. So for that he deserves big credit.For pretending that he was some great economic seer on the leading edge of knowledge, he got what he deserved.

[grocery_mony 8]

I actually think that WrongWay is doing a great service. I talk with people every day who still think that the investment THEY made is clearly going to work out, and the reasons are always personal and make no logical investment sense. Working for a brokerage firm has taught me one thing very quickly- most people have no idea what they are doing when it comes to investing. Absolutely no idea whatsoever. Within 2 years the amount of screaming deals to be had is going to be awesome. Save your money now and buy 3 houses later instead of 1 overpriced one now, and you will thank me later.

Nice call, I hope you followed your own advice so you can pay back Outsider.

[LongLiveYorke 38]

so just in case you've lived in a cave for the past year and can't read a newspaper or turn on a television, the visionary wrongway's got your back.

lol

[LongLiveYorke 38]

HE brought up specific points though, that ended up being correct, and was way ahead of the curve on it, I think you guys treated him rotten for no good reason.

Yeah, to his credit he was pretty spot on. But man, he was really good at coming across as a psychopath. So there's that.

[strategy 4]

Hey MK, what do you do for a living? hblask, how about you?

i'm a bond trader.

chirp

I never get tired of this exchange. I think I've seen it at least 2-3 times with different posters since then. "oh, I just make a living by being right on this one."