The Idiot-Maker Rally Continues!
The rally that made a lot of the smartest people around look like idiots slowed dramatically in the final months of 2009.
But the much predicted decline never happened.
After a brief sideways period during November, stocks went back to rising in December. The S&P is now up around 8% since mid-October. That’s only slightly better than half the pace we saw for the middle quarters of last year. But, excluding those quarters, the S&P hasn’t performed so well since 2004.
But this remains the most-hated rally of all time, and pundits just can’t help themselves calling for its demise.
So we’re updating our original list with the the latest round of haters. Some have called for an imminent collapse. Others are slightly more far-looking, so they’re basically setting themselves to look like idiots for as long as this rally continues.
And we’ll note that none of these people are idiots — it’s just the market has made everyone — and that includes all of us — feel like idiots.
See the 14 gurus who now look like fools >