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Why ANALysts Make Me Sick To My Stomach

Posted by timothysykes on Mon 1st of Sep, 2008 09:36:21 PM
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A few weekends back, I read these 2 Marketwatch articles that came out within hours of each other and couldn’t help but laugh. “Pieces might be in place for dollar to sustain gains” says this:

“Yes, it’s for real,” said Marc Chandler, global head of currency strategy at Brown Brothers Harriman. “The U.S. multi-year down trend is over. The process we described as ‘carving out a bottom’ has been completed.”

whereas the first quote in “Talk of $200 oil by year’s end quietly fades” is:

“Now analysts are lining up to say the top is in,” said Sean Brodrick, a natural resources analyst at MoneyandMarkets.com.”

Uhhh, we’re talking about a group of people who are known for being the biggest bunch of con artists around considering they’re right less than half the time and yet they are considered “experts” by financial journalists–who themselves are about as knowledgeable as drunken bums on the corner of the street–and suckers investors looking for guidance of any kind whatsoever, no matter if it’s from a bum or not. Cuz advice, of any kind, is comforting.

Normally, if you’re toilet is broken you call a plumber and since he’s an expert in that department, he gets the job done. Television not working? Call the cable guy and he’ll get it fixed. But finance is different–the experts won’t solve your problems cuz they’re frauds…and their track records, or lack thereof prove that.

The above articles have these ANALysts making statements about tops and bottoms waaaaay after the patterns have made big big multi-year moves and have reversed–think 10-20%–aka even if they’re wrong, they won’t be proven wrong for a while so they can come out with some excuses later if need be…

I mean my friggin God, do people actually listen to this coin-flipping-esque-gibberish? I feel like I’m taking f#$%en crazy pills!?!?!?!

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  • Preisendanz
    Haha, seriously if you listen to CNBC all day it's the same thing. You almost have to laugh when you hear these guys talk.

    Earlier in the year I heard a guy say that people would wish they bought Citi @ $30 and that in a few months Citi would look cheap....haha how's that looking now...
  • john
    when r u back in NY
  • Most of the people you see on TV subscribe to the "buy and hold" approach of investing which is extremely conservative and not much fun and more often than not, a money losing strategy. These are the same people that tell you to sock away your money in some mutual fund or another instead of empowering yourself and learning techniques that will make you money.
  • yaktipper
    Andy good work on the blog. You are learning and that's all that matters.
  • just got back to nyc...dearden, u link to your blog one more time and i cut u off as a spammer...u want hits, advertise like all the rest:

    http:/www.timothysykes.com/advertise
  • yaktipper
    awww comeon Tim, he's got your links all over his blog about 1 zillion times
  • thats fine yak, anybody's free to advertise my stuff, hell they should even join the affiliate program, but i wont permit ridiculous spamming on my site
  • younggunz
    Yeah if Andy was a little smarter he'd try making some money from his site and become an affiliate.
  • shortit
    STSI short it
  • Hi Tim, I found your site a few days ago and till then I thought that I were the only one thinking this way, but, now I am not alone.

    I have exactly the same opinion about those idiots, I love the way you call them, ANALysts, ROFLMAO.

    I have a very well known blog and also a forum where I teach how to make money trading penny stocks, I have about 11 years of experience trading pennies.

    I just want to tell you that I will be your strongest competitor on Covestor, but, I will begin to trade with much less than you, because most of my readers are students with $1,000 - $2,000 to trade, so I will begin with $1,400 and the objective is to make 1 million dollars till the end of 2009.

    I will be a daily visitor of your web site.

    Cheers,
    Dr PennyStock
  • Jay Cornelius
    Hey Tim,

    I've been considering buying former analyst Steve McClellan's book "Full of Bull", as he is kind of making your point but also tries to show how to find a diamond in the rough.

    But I am leaning towards your idea of throwing the baby out with the bathwater when it comes to analysts. Thoughts?

    Jay
  • Check out http://www.dumbanalysts.com -- we hate analysts too.
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