With just two months to go to assess the absurd forecast from RBS analyst Andrew Roberts at the start of the year to “sell everything”, it gives me little pleasure to note that his forecast continues to be humiliatingly wrong. If Roberts has any clients left, they would be reeling if they had taken his advise on a range of asset classes he said were a "sell" when in fact most have been rallying strongly… As has been the case for the bulk of the year, the only market where Roberts is ahead is the Nikkei which is down a piddling 0.2 per cent. Including that fall, the average rise in the 11 items that Roberts suggested should be sold, the gain so far is a marvelous 22.1 per cent. In the current era of low inflation and low interest rates, that’s about 6 years return in just 11 months. (VIEW LINK)
Stephen Koukoulas has a rare and specialised professional experience over more than 25 years as an economist in government, as Global Head of economic and market research, a Chief Economist for two major banks and as economic advisor to the Prime...
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Kudos to you Kouk for taking ol' mate to task and exposing him. To be fair though, it's not quite 31 December 2016 yet so you're not quite over the line however, all things being equal you look home & hosed. But as Dave Warner & Usi Khawaja can testify, you've got to get to 100 before you can raise your bat.
True: It is more on a protest or expose against the extreme, sensationalist 'forecasts' that get huge coverage and no one ever back-checks the result. Housing crash, recession looms etc etc. Different to making a call and being wrong. We all do that every week and my bank account lives and dies by that. Cheers