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Article: The long run: the indicators indicate that the market should fall - which has the experts apologizing.(Dances with Bulls)
- Article from:
- National Review
- Article date:
- April 21, 1997
- Author:
CopyrightCOPYRIGHT 1997 National Review, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ONE little-noted side effect of this unprecedented bull market is the elaborate theories that bearish advisors have developed to explain why their forecasting models have been so wrong. The phenomenon itself is quite remarkable. Up until now in my 17 years of tracking the investment-newsletter industry, I rarely have come across an advisor who is willing to admit he's been flat-out wrong, much less devote such energy to explaining why he was wrong. That this practice is now commonplace is testimony to the fact that this bull market has risen further and lasted longer than virtually anyone predicted.
Consider the newsletters whose forecasts I reviewed in these pages ...