I get somewhat irritated by the constant chatter and noise about market predictions.
They provide great theater and drama for those looking for direction, but the timing is usually awful when it comes to these particular targets. Just the other day there were at least six prognosticators on CNBC all with different places for the S&P 500 in six to twelve months.
Nothing about how the current market is doing was factored into the rationale. While we know fundamental analysts anchor themselves to P/E ratios, pegs and balance sheets the market tends to give a clearer picture about the present and the future.
Recently a set of ‘old time’ analysts decided the market was too expensive or had risen too much too fast, so they decided to ‘tell the market what it should be doing.’
LISTEN TO THE MARKET
I nearly fell out of my chair from the laughter. Don’t get me wrong, I have all the respect in the world for these experts, yet I have a hard time believing they can control the market. Oh, I’m sure at some point they will be proven correct, as we all know a broken clock is right twice a day. For now (and always), I will let the market tell me how to proceed.
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