“Wrong” again. Just two days ago we mentioned how world-renowned wrongness appears to be a pre-requisite for selling investing newsletters as Dennis Gartman unleashed his Nikkei 25,000 prediction on the world. Crucially though, it appears the great Gartman has taken the first step on the path to rejuvenation by ‘admitting’ his wrongness (though appears to have fallen short of making amends) as he told CNBC this morning, “I went neutral on stocks and I actually turned quite bearish for a couple of days – clearly that was wrong.”
But the ever-present-on-TV pundit then explained – in ubiquitously contradictory terms that it was “astonishing” that so many investors had failed to realize this and remained on the “absolute wrong side”. Just like him? What is clear – just as was proved by no lesser investing dynamo than Whitney Tilson – investing prowess is inversely proportional to the frequency of appearance on financial media… trade accordingly.
Step 1: Admitting you have a ‘forecasting’ problem
Wrong…
“Whether I like to say it or not, it’s still a bull market… I was wrong.”
Gartman said it was “astonishing” that so many investors had failed to realize this and remained on the “absolute wrong side”.
“They missed the fact that everyone else is picking up the weaponry of the ECB (European Central Bank). Japan has truly picked it up, and the ECB is going to have no choice but to pick it up,” he added.
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We assume when he says “they” he means “I”… or are we back to Denial?
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Here is a quick stroll down memory lane courtesy of @TMFHousel
via Zero Hedge http://ift.tt/1uio4zz Tyler Durden