Thursday, December 31, 2009

The bears math

If you thought Obama suffered from grade inflation, check out what grade Karl Denninger gave himself on calling the market:

"The stock market has not bottomed.  1/2 credit.  It had not bottomed but my SPX 500 @ 500 call was not achieved.  The 50% swing, however, got damn close.  Lots of money to be made if you're quick and good, but an absolute minefield if you're a long-term investor - spot on."

He gets a half credit? For that? Do fries come with that???

And the NAZ and S&P go up over 80% and 60% from the bottom, without a correction greater than 6%, and yet the market was a minefield for long term investors?

Looks like David Rosenberg math to me!

But he has an elaborate post, today, with all kinds of charts, proving that next year will be bad!

With a forecast worse than his grade inflation!