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Gartman "Astonished" By How Wrong Investors Have Been, Himself Included
"Wrong" again. Just two days ago we mentioned how world-renowned wrongness appears to be a pre-requisite for selling investing newsletters as Dennis Gartman unleashed his Nikkei 25,000 prediction on the world. Crucially though, it appears the great Gartman has taken the first step on the path to rejuvenation by 'admitting' his wrongness (though appears to have fallen short of making amends) as he told CNBC this morning, "I went neutral on stocks and I actually turned quite bearish for a couple of days – clearly that was wrong."
But the ever-present-on-TV pundit then explained - in ubiquitously contradictory terms that it was "astonishing" that so many investors had failed to realize this and remained on the "absolute wrong side". Just like him? What is clear - just as was proved by no lesser investing dynamo than Whitney Tilson - investing prowess is inversely proportional to the frequency of appearance on financial media... trade accordingly.
Step 1: Admitting you have a 'forecasting' problem
Wrong...
"Whether I like to say it or not, it's still a bull market… I was wrong."
Gartman said it was "astonishing" that so many investors had failed to realize this and remained on the "absolute wrong side".
"They missed the fact that everyone else is picking up the weaponry of the ECB (European Central Bank). Japan has truly picked it up, and the ECB is going to have no choice but to pick it up," he added.
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We assume when he says "they" he means "I"... or are we back to Denial?
* * *
Here is a quick stroll down memory lane courtesy of @TMFHousel
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Seem like he has a problem.....maybe he needs to STFU and just stack silver
NYT SAYS SUSPEND MIDTERM ELECTIONS
http://mobile.nytimes.com/2014/11/03/opinion/cancel-the-midterms.html?_r=0
The Official Organ of the Communista Democratic Far Left Wing Progressive Statist Party of AmeriKa has Spoken. It is Now Official.
Democratic Party by Fascist Decree
Just you wait till the Senate is R controlled.
He'll scream bloody murder that they're stopping the People's Progress and rule by Executive Orders Like NEVER BEFORE.
Then it really won't matter whatcu think of markets.
Fuck me... 1984 is already here.
http://www.infowars.com/samsung-smart-tv-records-personal-conversations-...
Big Brother is Watching
And the market was waiting for him to say he was wrong -- not. WTF cares about him.
Everyone is digging into stocks to get equity that will survive the currency crash.
What he and other refuse to admit is that the whole market is a fraud. They cannot bear to acknowledge that the whole body of knowledge that they have spent their whole lives acquiring is complete bullshit. This idea that they can somehow discern market movements from historical charts keeps them from seeing what reality is. HFT, insider knowledge (and I mean REAL insider FED knowledge), dark pools and other gimmicks have turned what was once a market to buy and invest in companies, into a rigged casino for insiders. It is completely assine for folks like the ones on ZH and this Gartman asshat to believe they can time markets and/or discern meaningful market information from rigged statistics and other published info. Juxtapose that against the fact that HFT's, dark pools and other insider market tools are specifically designed to frontrun orders and/or tell insiders the metrics for running stops,etc., just makes these markets a complete joke. It needs to crash and burn. Perhaps after that we can build a meaningful market that can be used by regular folk for investment and not for being swindled by losers who have nothing better to contribute to society other than ripping people off from their hard earned money in what has become a national 3 card monte scheme.
Don't you think it is about time that Gartman admit that he has an extra chromosome on 21? It would explain a lot of what comes out of his mouth.
"I turned bearish for a couple of days." Great to know these guy have a handle of the long term economic outlook.
The weatherman is correct more often than Gartman... Perhaps he and Cramer could team up for an afternoon comedy show on CNBS about stawks...
. . . did you say: "Troll down memory lane" ?
and here I thought that perhaps, he was just short of integrity
and here I thought that perhaps, he was just short of integrity
SUSPEND MIDTERM ELECTIONS
Stop the damn bus....I wanna get off!
I ALWAYS listen to Gartman. He is ALWAYS wrong. That's a valuable as a pundit that is always correct.
Stop the elections! We be losin!
LOL
You nailed it.
If you read the article you will see that he complains about the president not being all powerful. Did this motherfucker ever read the Constitution. Or is he just a product of the public school system. What a douche bag.
Knuk- it's not like the article said to cancel ALL elections, just ones where the Dems are likely to lose. For god sakes, man, get a grip! Have some perspective about these things! It's an entirely reasonable and, I believe, long overdue change so that Obama can finally "get stuff done". His way. The only RIGHT way.
The world is too dangerous a place now for us to have the luxury of dissenting opinions or ideas. Those who hold or espouse such ideas are weaking our nation and therefore, by definition, are terrorists. They should be rounded up and "reeducated" in the proper way of thinking, not allowed to run for office where they could spread their twisted, treasonous ideas to others.
Phew... Thanks NoDebt. I thought I was losing it there for amoment.
Oh sure, obviously the elections that are going their way are just fine....if they're going against 'The One' and his friends, obviously that's a glitch in the matrix.
While I disagree with the content of the NYTimes article, at least they had the decency to suggest it be done via Constitutional amendment. It didn't simply suggest that, a Republican Senate being anticipated this time, Obama should simply cancel the election this one time. Not that he wouldn't like to, or better yet simply disband Congress and suspend the supreme Court Jesters so he could govern by fiat.
Too bad they didn't suggest we simply suspend the entire DC regime for the next two years.
"at least they had the decency to suggest it be done via Constitutional amendment"
Geezer- that's how they always start this stuff. Sounds all Constitutional, legal and resonable at first. Then it becomes an agenda item with more and more pressure put behind it. Then in the fit of some crisis, it's done by fiat. The only response to this article is "no". Without qualifications.
Hey, what is your problem? One of the authorsof the Time's piece is a junior at Duke. He is certaintly experienced and qualified.
"Hi, my names Dennis and I'm a Analcyst"
"HI DENNIS"
And welcome to the 0845 meeting of Analcyst Anonymous
God grant me the anal cream to diminish my cyst, the needle to poke it open with and the Bandaid to absorb the puss
so now the world has the fiat triad to save it. or more accurately the fiat triad wll do its best to save itself while drowning the world in colored paper. or more accurately colored pixels on bloomberg monitors.
what is new there , I mean the man works for CNBC
Hes the only clown on CNBC that admits hes wrong time and time again....at least the fucktard admits it on live TV.....you ever hear Obola or Bernanke admit hes wrong EVER?
So, if I'm to understand this, he is wrong again right now and were headed for a bear market?
Nobody's right when everybody's wrong.
There's a man with a gun over there....
Look! He's stealing my Unicorn!
Relax.....we still have the fairy pixie dust.
Looks like the Dow will have a few more good days before the inevitable plunge into darkness...
http://www.globaldeflationnews.com/dow-jones-industrial-averageelliott-w...
Fucking profiteering hack.
Whats so special about Gartman?
What happened to Charles Biderman, who used to be a reguler feature at ZH around year 2012?
The Silver Bears are quiet, too.
Lol .. Gartman once again simply added to the pile of evidence that the markets are NOT free markets.
In free markets, market sentiment determines direction. If people want to buy, then the price goes up. If people want to sell then the price goes down.
The stock markets function in the opposite way. They run on the lie that market sentiment is wrong and that only the professionals (banks and their cronies) can correctly judge where price is going.
Well, f'n duh. IT IS A RIGGED MARKET IN WHICH THE BANKS STEAL MONEY FROM PEOPLE WHO BELIEVE THE LIE THAT IT IS A FREE MARKET. There are insiders and outsiders and I guess we now know for a fact that Gartman is an outsider... unless he is lying.
Interesting, Gartman changing his identity to Goshman...
I miss Dick "Oy Vey" Bove' and his "stellar" and "take it to the bank" calls, especially on the financial sector.
Gartman is a hack. But at least he admits it when he's wrong. This is unusual in his industry. I have yet to receive a refund from an under-performing portfolio manager and I've received a grand total of one apology over the years for money lost. And I've lost more than once.
Gartman keeps it up CNBC might quit inviting him on to the show!
He's not in the financial industry. He's in the media industry.
People watching his show (his ratings) are related to how credible people believe his advice to be for return business. Or how many gullible first time watchers can be sourced in the event that his regular customer base is leaving in droves.
Politicians apologize too you know. They are also people with public images to maintain. How many of them do you believe are legitimately humbled?
gartman (GART-min) defn:
verb: to employ a previously helpful strategy at the precise point it loses its efficacy. (e.g., “Look! Now that the motorist’s smoke-billowing car is stalled on Highway 3, he’s going to gartman the crankcase with oil!”)
how could gartmen have known that the FED would stop QE, but JAPAN would step in with its own trillion yen purchase.
The CB's are just rotating QE's. After Japan is done, Europe will kick in their latest round of QE. Then it will be americas turn. round and round it goes.
That sounds so wonderful.
That wasn't the thesis of his bearish call.
The market strongly rebounded long before Japan announced anything. What we witnessed up until the 15th was somebodies positions getting killed as they tried to liquidate,pretty much standard operating proceedure. To me it was the first time this pig acted like a real market in years and, it was a great opportunity to make some easy cash for those of us who bought the shit out of that sell off.
Listen Zero's.
I'd hate to see the "WRONG" bulletpoint list for The Hedge.
Ouch!
Right and wrong are a matter of perspective.
If I was wrong to sell, then you were right to buy and vice versa ;-)
Listen Bank.
"Bears say the funniest things" especially when I steal their puppies.
Why would you do such a thing?
Have you no mercy?
Pssst... BTW ZH only needs to be correct once. They will then do the victory lap and disappear into nothingness. Its not the destination but the journey that matters ;)
Gartman: " I am now going wrong 1 unit of the US stock market...eh, I mean long.., I'm now going 1 unit long.,."
Gartman (it seems) is trying to rationalise his feelings of market behaviour from which to form trading ideas, instead of rationalising actual liquidity flow behaviour.
Exclude your own views from the market.
Good thing is, his livlihood does not depend on it.
What will he say when he realizes that he was wrong about being wrong?
why do you listen to him?
who is the bigger fool?
We've seen a grand and concerted effort to convince the voters that things were inmproving: Record high markets, GDP, job numbers, Economy strong enough to end QE. And the social factors: delaying the Ferguson Grand Jury decision, Obama's dangling carrot for amnesty to the Hispanic population.
After the election, they'll be no reason to hide the truth any more.
As I keep saying:
Central command has the fastest computers and brightest NSA employees with access to everything
Nobody can beat them.
There is no market. There is just a network of centrally controlled computers like Sony Playstation.
MARKET = DEAD until further notice
Until further notice? For what reason would they ever relinquish control?
World is abandoning the system and reducing real trade with USA
If they don't, then there will be assassinations, in my view
Listen.
The markets will be free "ONLY" after Obama orders the extinguishing of 4 Trillion US Dollars! Until then you are tradebait for the USSA Federal Reserve.
agree
It is Congress + Obama
Listen.
USSA Obamma has a "PEN".
Listen:
Nobody cares about Obama's pen
None of his executive orders have been applied thus far, gun control being the most hilarious one
Dont be too hard on him. He starts crying.
You can choose to get a life or you can read my posts.
Obviously you have nothing else to do but read what I write.
I am totally stupid. If you read my posts you will be enstupidated
Get a life
Dont be disappearing after 31 Dec 2014, like after 31 May 2013.
I'll be waiting.
I won't
All my structural predictions have been 100% fulfilled.
100% success
Time related prediction? Who cares
How a human bean like Comte d'Herblay, with no professional experience in market analysis, is able to best the performance of those working in the business for 30 years, while profitable, isn't all that amazing. In fact it's not even a fair game.
Here you have all these super analyzing techniques, algoriithms par excellence, 150 IQ intelligentsia, feverishly working 366/24/7 with Cray computers up the wahzoo, to figure out what to do, and what...........miserable failure after failure after failure. IF I were any of them I'd take Robin Williams' way out just for being so intolerably wrong.
Just 5 little letters is all any of them needed to be way ahead of the averages selecting triple digit ETFs.
And for 6 years they have resisted the fact that is as plain as the sun bouncing off Lord Blankfein's cue ball head: The FED is going to, whether right or wrong, make whole, all paper assets that represent ownership, by absorbing all the Bureau of Printing and Engraving's output until the derivatives iceberg is completely submerged deep beneath the North Atlantic.
The shortest distance between two points is a straight line.
The obvious answer is Occam's.
Jeesus h christ why is this so hard for them and all the shorts in the world who have a masochistic fetish to kick the shit out of themselves every day?
I don't know why they keep putting this moron on the air. Is there nobody else available???
'I was wrong....here now let me give you some more sage advice'
Oh fuck off Gartmann.
I'm pretty sure this guy is really Cartman.
Unless someone is giving Gartman the memo early on the BoJ and numerous other front run scams how does he or anybody else have a chance? This market is too corrupted for anybody outside the inside memo cartel.
So if this the final top right here obviously Gartman still won't get the memo.
Gartman, Icahn, Soros and all the other fossil assheads talk their book.
They tell the world one direction and trade the other. It's how they unload inventory.
These turds aren't going away. When you get their opinion, do the opposite. It's what they are doing.
Gartman and the rest of the investment analyst need to face the reality that their occupation no longer exists. They are the modern day buggy whip manufacturers. The central banks have taken over. The market as they understand it and model it is long gone.
Investors have 2 choices; play or not play. The only information that anyone needs is when to get out. When will some global crises; war, famine, disease, etc drop the market?
They should make Gartman voo-doo dolls.........
Or give him a show right after Cramer?
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www.traderzoo.mobi
Just sold. Thanks for the tip Mister G.
proving that no conviction remains...there are no guiding principles left.
"It's always good to be Sean" - Dennis Gartman
"Sometimes it's not, Dennis" - PiratePiggy