They’ve been wrong about a lot of other things too, haven’t they? As soon as Trump won the election, they started making predictions about what would happen to the stock market.
And really it was only a matter of hours before those predictions began to be proven FALSE.
They thought the market was going to tank the next day, but what happened?
It took a quick dip and then it went up big time with a huge, or as Trump would say, a yuuuge day!
Stocks, bonds, and commodities were all over the place.
Some of the biggest companies like Facebook (down 8.5%) and Apple (down 6%) were down significantly.
Banks were up big time, like as much as 19%! (BOA up 19% JPM up 15%)
Gold was down 7% and bonds were down 8%!
Volatility spiked (some of you may have been watching the VIX), but then it went back down to where it was before the election!
Now by the time you’re reading this, the market situation may be totally different once again. But the point is that NO ONE, especially not the mainstream media has correctly predicted ALL of these movements.
So I think you would agree with me, that...
We really should NOT be taking advice, much less financial advice, from the media—right?
Still, we can make some educated guesses can’t we?