One of the mechanics from Fast Money tried to get technical on Ed, citing the indelible fact that all world markets look like a flaming bag of refuse and that the SPY had the look of a rolling top. Yardeni was having none of that shit. He stood up and cold prison smacked the bear for even uttering the words ‘rolling top.’
In all truthfulness, Yardeni is as smart as a bag of moon rocks in the sun. Nevertheless, the man has an intense following, almost as popular as President Nixon did after the Watergate scandal.
He’s always worth a listen, especially if you’re deaf.
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The market has a hell of a lot more than just 10% in it.
DOW 30,000 or Bust
Dude called it. It is rigged.
Only 10%? He’s too modest. I see 20% upside still. Easy 50-100% on all equity names.
Why stop at 10%? How about 15%. This guy is a pessimist. I say this market has 17.5% left in it this year, maybe more!
Good ol’ Ed. He visited my office back in the frothy times of ’06 or early ’07 to preach Dow 350,000 and field questions. After much fawning by our senior management, I wrecked the mood and mentioned some metric indicating a slowdown in consumer spending, followed by a question of “How 350,000?” if spending slows. Ed was having none of that shit! At that moment I was summarily Prison Smacked by our guest, and dismissed with a non-answer of the following general flavor: “Americans are richer than they think. Most people don’t consider the value of their benefits package when they cite their income.” Huh?!? Shortly after that I went 100% cash in my personal portfolio while our clients’ too the express train straight to Fucking Hell.