every time when I read any economic prediction, I just tell myself none of those millions of so-called economists predicted the coming of GFC, let alone how it actually played out. if using wage to measure the quality of those media economists, probably 90% of them earns less than myself.
what those economists do is to fill the information gap mum and dad desperately want to hear, as naturally, people prefer wrong information to no information. if you turn on a finance channel, and host just said, today, ASX is down 100 points or up 50 points without any reason then start to read some other news, you will feel wtf, so those media economists are obliged to say something, so they usually say something follow the trend, instead of predicting the trend, because its so easy and safe for them to pick the evidence to prove the trend.
in saying that, I do admire those starting short IO miners specially FMG, it would require a brave soul to stand up against twiggy, as everytime, someone pushed him down, and he stood up even stronger. but I think those brilliant brains have left two weeks ago, those are still shorting are those who have been misguided by those so called media economists.
AGO Price at posting:
16.5¢ Sentiment: Hold Disclosure: Not Held
FMG Price at posting:
$2.74 Sentiment: Hold Disclosure: Not Held
MGX Price at posting:
24.5¢ Sentiment: Hold Disclosure: Not Held
ARI Price at posting:
21.5¢ Sentiment: Hold Disclosure: Not Held
BCI Price at posting:
53.0¢ Sentiment: Buy Disclosure: Held
