Four Bloomberg headlines that explain just how clueless the advice givers are.
• May 23, 2011: Biggs Buying as S&P 500 Profit Forecasts Rise Most in a Year
• May 24, 2011: Biggs Says Stock Bears Wrong Even as Economy Slows
• Aug 3, 2011: Birinyi, Biggs Advise Holding Stocks After S&P 500's Decline
• Aug 18, 2011: Biggs Says S&P May Be Bottoming, Priced for 15% Profit Drop
Which of these buy calls should you follow? Might some of these calls be suffering from some sort bias?
At this point it is pretty obvious that people like this have an agenda and it does not include making you money.
If you are always telling people to buy-buy-buy, can anyone really follow your advice?
When your salary and business depend on people buying something, it is ALWAYS a good time to buy.
One would think people would have learned this by now.It's distressing to hear how many longs – including so-called "value" professional portfolio managers – are hanging their hat on one year forward P/E, a deeply flawed measure. They have not learned anything from the dot com bubble and the RE bubble when analysts drastically cut their earnings estimates in the blink of an eye. Anyone who bases their investment thesis solely on the one-year forward P/E is asking for trouble.