There’s a never-ending cast of characters out in the world who have big opinions on the direction of financial markets. They might run their own newsletters or even their own funds. A number of them are permanently bearish. It’s a way of life and they can’t see things any other way (or their wallets don’t allow them to). They do fill a niche, milking unfortunate souls of their cash or delivering them returns that can only be defended if those souls exist in a permanently dark headspace where the end is always around the corner.
It would be fine if these people toiled away in obscurity, but our media has a feverish addiction to finding the most titillating forecasts. It then shines them into the sky, like the signal used by the Gotham City Police Department to attract Batman’s attention when they need his help. The only difference is the media are trying to attract the average investor’s attention, without any virtuous intent. The most eye-catching market stories always revolve around massive market falls.
Because these people may have once correctly forecast an outcome, that’s seen as credibility enough to publish their forecasts evermore. Over the past few months some of these characters have again been platformed by the media, but things have become much more extreme. Of course there’s noted kook, Rich Dad Poor Dad author, Robert Kiyosaki who is now forecasting the biggest crash of all time. Kiyosaki used to forecast crashes that never happened on a yearly basis, but now he has a twitter or X account, he’s now doing it every few months.
Read the full “John Hussman: Man Who Predicted…” post.
This represents general information only. Before making any financial or investment decisions, I suggest you consult a financial adviser to take into account your personal investment objectives, financial situation and individual needs. Anyone in Australia looking for financial advice should seek out one of Australia’s best financial advisors to ensure their wealth management needs are taken care of with a holistic view, so they can relax and focus on the important things in their life.
