It's not so much bravado, rather it's based upon looking at accuracy of prior calls and evaluating their worth. Just because GS makes a call (or any other analyst for that matter), does that mean they are initiating a position in the direction of that call? Or for that matter, are they unloading a position already held? Where can you verify this? Most analyst calls are about as reliable as flipping a coin, but when they are really adamant about making a major call known to the general public, that is (for whatever reason, and regardless of their intentions) generally a good fade. Would you have been ill advised to fade this prescient call? Or better yet, was the right thing to do to take their oracle's sage advice to buy? I consider you amongst a handful of ET's smarter posters, so no offense meant. Just wanted to assert that there are reasons why some of us weigh these types of calls with a grain of salt or worse.
The biggest mistake people make is not formulating their own opinion. Personally, I love to see calls of all varieties...read the rationale, and make up my own mind on the topic. They're all ideas - take 'em or leave 'em. Magically, the memory for bad calls is long.... ...while more than a few of the good calls belong to the investor.
Sure....as long as you don't take anyone down with you. We'll be around next year to dig it up from the ocean floor.
There was a line around the block calling the eom 'paint job' a fade. Only thing fading here is the p&l of shorts. Not a call, an observation
Goldman ? LOL ! : "Just another bear market rally" We expect the market to fade this rally, but think it unlikely that we will break the February lows, before staging a more sustained recovery supported by fundamental improvements in activity and banksâ balance sheets later in the year. Longer-term, we think that attractive valuation levels should lead to strong real returns for shareholders.
Heard analysts on 2 TV business shows last night saying "we just might have the beginnings of a real bull market here." Majority still calling it a bear market rally. Guess we go higher until we get that 75% "It's a bull market after all." call.
But isn't it amazing you keep losing money averaging into these 3x bear ETFs even though we're down on the year and we're in a bear market? The worst bear market in generations, economy imploding, unemployment soaring, market in panic mode and ET's "told you so" über-bear S2007S still can't figure it out: Losers average losers.
Not as a principal of a trading firm, yet. Plenty of +$3M days at boutique trading firms or hedge funds I worked for. I give us six months. It is a matter of being able to maneuver a large portion of our AUM intelligently into play.