I recently came across a link on Bloomberg titled
‘Roubini Sees Global Gloom after Davos Vindication’
Let me say it again -
STOP LISTENING TO PEOPLE WHO HAVE BEEN WRONG ALL ALONG!
There have been many whose predictions and expectations have been way off!!!!! Downright misguiding & consistently wrong!!
There were those who said that there was no US Housing bubble in 2005-2006 and still others who had been recommending buying stock in AIG & Lehman Brothers until months before they finally went under.
CHANGE OR MORE OF THE SAME
Even as the ‘Bad Bank’ solution has already been discussed to death; it’s surprising that no one is opposing the fact that the same management teams will continue to lead the banks. These are the same guys who took ‘crazy risks’, earned ‘extraordinary bonuses’ and got us into this mess in the first place. They lost money once, and now thanks to the FED & Treasury, they are being invited to ‘Scam the Public’ Round 2!
A lot of what I have learned since I started following financial media, is that you have to track comments of the few that ‘know what they are talking about’ and just disregard the rest.
Look for consistency and a solid track record.
Do take a look at my blogroll and list of Links of websites I read.
Following the advice of ‘experts’ who have been wrong all along is injurious to your financial health.