Here it is. Episode #1 of “Quiet the Noise.”
The noise level on Wall Street and the media is at an all time high given this was the worst January in stock market history. That’s right, the worst. We finished strong though with all major indices running for near 1.5% gains. These Vlogs are designed to help investors decipher noise from the not-so-noise.
My safety helmet’s on…This week’s Noisemaker award goes to: Harry Dent. Congrats, Harry.
Poor Harry can’t seem to get much right in the way of the Dow Jones Industrial Average’s ups and downs–but he sure does manage to sell a %*&#-load of books about it happening. Don’t buy the noise.
Dow 35,000 or Dow 6,000—which one is it this time? If you guessed 6,000 you guessed right—but we think Harry’s wrong, again. Harry, a Harvard educated South Carolinian was the apple of my economist eye back in the late 1990’s—let’s just say I drank the cool-aid. Don’t do it. Harry’s calling for a 70% market crash and he needs to get a grip.
And while our indicators, ahem, the data, are quite cautious currently, any noisemaker that wants to predict a 70% market sell off is ALWAYS going to be awarded with a “Noisemaker” award.
By the way, the not-so-noise, guided our portfolios (NOT Harry) quite defensive last July with the elimination of International Equities in lieu of a higher allocation to bonds and cash. The pay off has been nice for our clients, but as long as the sun is shining, we’re going to try and make some hay. So for us, no running for the hills….just yet—go equities, go!
We went for a tad un-cut, unscripted, real, Cokie.