Remember our recent contest to predict the Dow on February 28, 2011, and win a copy of Vitaliy Katsenelson’s highly acclaimed book, The Little Book of Sideways Markets?
We have a winner….. Congratulations Jerome!
Jerome guessed the Dow would be at 12229 on Feb. 28, three points away from the 12226 close. Jerome also responded with the word "optimism" to describe the prevailing market emotion.
Informed of his success and asked how he came so close, Jerome replied:
I’m excited about winning, but not sure I can provide anything of substance. I use very basic rudimentary technical analysis so I drew some trendlines and use multiple time frames to make a blind guess and got lucky! I doubt I’d be able to get it that close again but would be fun to try. This gives me some confidence in my trading again.
Other results:
Tied for second place: jromeha and jbaker and windseye.
Lowest guess = 6,000,
Highest guess = 12,900
Average of 95 estimates = 11,156
The average estimate was over 1000 points lower than where the Dow closed. We’re going to give everyone another chance to win Vitaliy’s book, and Jerome a chance to see if he can close that three point gap of his. Give us your best guess for the Dow at the close on April 29, 2011, between now and Friday.
"It’s hard to talk clearly about investing and make sense to ordinary readers at the same time. Katsenelson gives a lucid explanation of today’s markets with sound advice about how to make money while avoiding the traps that the market sets for exuberant bulls and frightened bears alike." — Thomas G. Donlan, Barron’s
"The bible for how to invest in the most tumultuous financial market environment since the Great Depression. A true guidebook for how to build wealth prudently.” — David Rosenberg, Chief Economist & Strategist, Gluskin Sheff + Associates Inc.
"A wonderful, grounded read for new and seasoned investors alike, Katsenelson explains in plain English why volatility and sideways markets are a stock picker’s best friend.” — The Motley Fool, www.Fool.com
"This book reads like a conversation with Vitaliy: deep, insightful, inquisitive, and civilized." — Nassim Nicholas Taleb, author of The Black Swan
