![]() ![]() I’m not anti-bearish or anti-bullish, I’m anti-charlatan. There’s nothing wrong with expressing an opinion about the markets, be it positive or negative. But this has nothing to do with being bullish or bearish. People who are contrarians for the sake of being a contrarian will read something like this and tell me it’s a sign of a market peak. Rogers very well may be a legendary investor but that doesn’t make his crystal ball clearer than anyone else’s. Sometimes uber-successful people are the worst ones to listen to for advice because they become so overconfident in their abilities. Why not take a break for a while after the first few crash calls were completely off base? He made a ton of money after founding the Quantum Fund with George Soros in the 1970s and retired in his late-30s to travel the world.īut how is this possibly helpful to anyone? Once all your punches are used up, no more making extreme predictions again.īy all accounts, Rogers is a decent guy. You would only get 5 opportunities to call a top or bottom in the markets and every time you made a wrong prediction you’d get a punch. If I was named Financial Market Czar one of the first rules I’d institute would be to give every pundit a punch card. One of my loyal readers sent me the following this week to put this scary headline into perspective:Ģ011: 100% Chance of Crisis, Worse Than 2008: Jim RogersĢ012: Jim Rogers: It’s Going To Get Really “Bad After The Next Election”Ģ013: Jim Rogers Warns: “You Better Run for the Hills!”Ģ014: JIM ROGERS – Sell Everything & Run For Your LivesĢ015: Jim Rogers: “We’re Overdue” for a Stock Market CrashĢ016: $68 TRILLION “BIBLICAL CRASH” Dead Ahead? Jim Rogers Issues a DIRE WARNINGĢ017: THE BOTTOM LINE: Legendary investor Jim Rogers expects the worst crash in our lifetime It has to be true! He’s a legendary investor! Normal investors could be excused for seeing a headline like this and running for the hills. Speaking of charlatans, here’s a headline I read on Friday that sounds scary: The term ‘charlatan’ is perfect for the finance industry because it can attract people pretending - whether they realize it or not - to know more than they actually do. It was only after they had moved on to the next town that people would realize they’d been swindled as these tonics were worthless forms of medicine (this is also where the term snake oil salesman comes from).Ī charlatan has also been described as someone who professes to have abilities or expertise that they do not have. There used to be traveling medicine shows where the salesperson would make promises of magic elixirs that would heal all wounds. Some of the original charlatans were confidence men who would prey upon people’s misunderstandings about healthcare before modern medicine existed. The word ‘charlatan’ is supposedly derived from the Italian word ciarlare, which means ‘to babble.’ “The reason that ‘guru’ is such a popular word is because ‘charlatan’ is so hard to spell.” – William Bernstein ![]()
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