After the market rally yesterday, the reports in Straits Times now says that recovery is in sight within this year or the next.
It's amazing how many opinions there are on when the market will actually recover. Few weeks back, I remember reading reports saying that it might take up to 2-3 years for Singapore's economy to recover. Now they are saying that the recovery is in sight?
It seems that people's opinions are based on what the flavour of the month is.
Ask any CEO of any company what his outlook for his business is for the upcoming future and of course he will tell you that times ahead are bad, etc, etc. I seriously do not need to spend time reading such news. I could very well have come up with those statements myself.
It just seems that people are going with the "flow". Since it is like the GLOBAL FINANCIAL CRISIS now, surely we cannot be talking about how bright the future will be. So this whole thing becomes a self fulfilling prophecy.
Then when a market rally occurs, recovery will seem to be insight.
If the market drops heavily on another day, reports will surely come out saying that recovery is nowhere in sight.
End of the day, nobody can figure out when the bottom of the market will be.
Not even the professionals.
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2 comments:
If we listen to the talking heads, we will realize that everyone is just a clever clone. No one really knows what will happen, but everyone loves sounding smart.
Yep. Some of them really do sound smart talking about the most complicated concepts and why some stocks should rise and why others should fall. Quite interesting really.
Maybe some one should keep an archive of all these and see whether their predictions or analysis really do materialise.
I predict that it is a 50-50 chance that they are correct
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