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Gartman "Astonished" By How Wrong Investors Have Been, Himself Included

Tyler Durden's picture




 

"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.

*  *  *
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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Mon, 11/03/2014 - 09:41 | 5406319 kliguy38
kliguy38's picture

Seem like he has a problem.....maybe he needs to STFU and just stack silver

Mon, 11/03/2014 - 09:51 | 5406335 knukles
knukles's picture

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

Mon, 11/03/2014 - 10:00 | 5406383 Bindar Dundat
Bindar Dundat's picture

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.

Mon, 11/03/2014 - 10:12 | 5406429 chubbar
chubbar's picture

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.

Mon, 11/03/2014 - 10:17 | 5406451 remain calm
remain calm's picture

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.

Mon, 11/03/2014 - 10:24 | 5406481 smithcreek
smithcreek's picture

"I turned bearish for a couple of days."  Great to know these guy have a handle of the long term economic outlook.

Mon, 11/03/2014 - 10:53 | 5406579 Keyser
Keyser's picture

The weatherman is correct more often than Gartman... Perhaps he and Cramer could team up for an afternoon comedy show on CNBS about stawks... 

Mon, 11/03/2014 - 11:13 | 5406676 tc06rtw
tc06rtw's picture

. . . did you say: "Troll down memory lane" ?

Mon, 11/03/2014 - 17:26 | 5408307 Weisbrot
Weisbrot's picture

and here I thought that perhaps, he was just short of integrity

Mon, 11/03/2014 - 17:27 | 5408308 Weisbrot
Weisbrot's picture

and here I thought that perhaps, he was just short of integrity

Mon, 11/03/2014 - 10:03 | 5406388 GetZeeGold
GetZeeGold's picture

 

 

SUSPEND MIDTERM ELECTIONS

 

Stop the damn bus....I wanna get off!

 

 

Mon, 11/03/2014 - 12:25 | 5406948 WarHorse
WarHorse's picture

I ALWAYS listen to Gartman.  He is ALWAYS wrong.  That's a valuable as a pundit that is always correct.

Mon, 11/03/2014 - 10:13 | 5406426 SheepDog-One
SheepDog-One's picture

Stop the elections! We be losin!
LOL

Mon, 11/03/2014 - 11:58 | 5406848 pachanguero
pachanguero's picture

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.

Mon, 11/03/2014 - 10:16 | 5406450 NoDebt
NoDebt's picture

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.

Mon, 11/03/2014 - 10:30 | 5406493 knukles
knukles's picture

Phew...  Thanks NoDebt.  I thought I was losing it there for amoment.

Mon, 11/03/2014 - 12:15 | 5406905 SheepDog-One
SheepDog-One's picture

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.

Mon, 11/03/2014 - 10:18 | 5406455 GeezerGeek
GeezerGeek's picture

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.

Mon, 11/03/2014 - 10:25 | 5406479 NoDebt
NoDebt's picture

"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.

Mon, 11/03/2014 - 10:29 | 5406487 Nutflush60
Nutflush60's picture

Hey, what is your problem? One of the authorsof the Time's piece is a junior at Duke. He is certaintly experienced and qualified.

Mon, 11/03/2014 - 10:11 | 5406422 booboo
booboo's picture

"Hi, my names Dennis and I'm a Analcyst"

"HI DENNIS"

Mon, 11/03/2014 - 10:29 | 5406489 knukles
knukles's picture

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

Mon, 11/03/2014 - 11:04 | 5406630 ZH Snob
ZH Snob's picture

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.

Mon, 11/03/2014 - 09:42 | 5406323 SickDollar
SickDollar's picture

what is new there , I mean the man works for CNBC

Mon, 11/03/2014 - 09:52 | 5406359 Divided States ...
Divided States of America's picture

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?

Mon, 11/03/2014 - 10:16 | 5406444 playnstocks
playnstocks's picture

So, if I'm to understand this, he is wrong again right now and were headed for a bear market?

Mon, 11/03/2014 - 09:42 | 5406327 dontgoforit
dontgoforit's picture

Nobody's right when everybody's wrong.

Mon, 11/03/2014 - 09:45 | 5406334 TeamDepends
TeamDepends's picture

There's a man with a gun over there....

Mon, 11/03/2014 - 09:52 | 5406357 knukles
knukles's picture

Look!  He's stealing my Unicorn!

Mon, 11/03/2014 - 10:08 | 5406405 GetZeeGold
GetZeeGold's picture

 

 

Relax.....we still have the fairy pixie dust.

Mon, 11/03/2014 - 09:46 | 5406338 Ewtman
Ewtman's picture

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...

 

Mon, 11/03/2014 - 09:46 | 5406339 BrosephStiglitz
BrosephStiglitz's picture

Fucking profiteering hack.

Mon, 11/03/2014 - 09:47 | 5406345 LULZBank
LULZBank's picture

Whats so special about Gartman?

What happened to Charles Biderman, who used to be a reguler feature at ZH around year 2012?

Mon, 11/03/2014 - 09:51 | 5406355 Motorhead
Motorhead's picture

The Silver Bears are quiet, too.

Mon, 11/03/2014 - 09:50 | 5406352 Notsobadwlad
Notsobadwlad's picture

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.

Mon, 11/03/2014 - 09:50 | 5406353 paint it red ca...
paint it red call it hell's picture

Interesting, Gartman changing his identity to Goshman...

Mon, 11/03/2014 - 09:52 | 5406358 Motorhead
Motorhead's picture

I miss Dick "Oy Vey" Bove' and his "stellar" and "take it to the bank" calls, especially on the financial sector.

Mon, 11/03/2014 - 09:53 | 5406361 Captain Willard
Captain Willard's picture

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.

Mon, 11/03/2014 - 09:55 | 5406369 Motorhead
Motorhead's picture

Gartman keeps it up CNBC might quit inviting him on to the show!

Mon, 11/03/2014 - 10:22 | 5406437 BrosephStiglitz
BrosephStiglitz's picture

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?

Mon, 11/03/2014 - 09:54 | 5406362 Keltner Channel Surf
Keltner Channel Surf's picture

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!”)

Mon, 11/03/2014 - 09:55 | 5406364 madcows
madcows's picture

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.

Mon, 11/03/2014 - 09:57 | 5406372 LULZBank
LULZBank's picture

That sounds so wonderful.

Mon, 11/03/2014 - 09:58 | 5406376 NoDebt
NoDebt's picture

That wasn't the thesis of his bearish call.  

Mon, 11/03/2014 - 10:16 | 5406406 Dr. Engali
Dr. Engali's picture

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.

Mon, 11/03/2014 - 09:58 | 5406371 Bangalore Equit...
Bangalore Equity Trader's picture

Listen Zero's.

I'd hate to see the "WRONG" bulletpoint list for The Hedge.

Ouch!

Mon, 11/03/2014 - 10:00 | 5406380 LULZBank
LULZBank's picture

Right and wrong are a matter of perspective.

If I was wrong to sell, then you were right to buy and vice versa ;-)

Mon, 11/03/2014 - 10:04 | 5406400 Bangalore Equit...
Bangalore Equity Trader's picture

Listen Bank.

"Bears say the funniest things" especially when I steal their puppies.

Mon, 11/03/2014 - 10:11 | 5406411 LULZBank
LULZBank's picture

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 ;)

Mon, 11/03/2014 - 09:58 | 5406374 Cacete de Ouro
Cacete de Ouro's picture

Gartman: " I am now going wrong 1 unit of the US stock market...eh, I mean long.., I'm now going 1 unit long.,."

Mon, 11/03/2014 - 09:58 | 5406375 JDFX
JDFX's picture

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. 

Mon, 11/03/2014 - 10:00 | 5406385 LULZBank
LULZBank's picture

Good thing is, his livlihood does not depend on it.

Mon, 11/03/2014 - 10:00 | 5406378 razorthin
razorthin's picture

What will he say when he realizes that he was wrong about being wrong?

Mon, 11/03/2014 - 10:01 | 5406384 basho
basho's picture

why do you listen to him?

who is the bigger fool?

Mon, 11/03/2014 - 10:01 | 5406391 ejmoosa
ejmoosa's picture

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.

 

Mon, 11/03/2014 - 10:03 | 5406393 ekm1
ekm1's picture

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

Mon, 11/03/2014 - 10:05 | 5406404 razorthin
razorthin's picture

Until further notice?  For what reason would they ever relinquish control?

Mon, 11/03/2014 - 10:06 | 5406407 ekm1
ekm1's picture

World is abandoning the system and reducing real trade with USA

If they don't, then there will be assassinations, in my view

Mon, 11/03/2014 - 10:07 | 5406409 Bangalore Equit...
Bangalore Equity Trader's picture

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.

Mon, 11/03/2014 - 10:09 | 5406415 ekm1
ekm1's picture

agree

It is Congress + Obama

Mon, 11/03/2014 - 10:13 | 5406430 Bangalore Equit...
Bangalore Equity Trader's picture

Listen.

USSA Obamma has a "PEN".

Mon, 11/03/2014 - 10:15 | 5406442 ekm1
ekm1's picture

Listen:

Nobody cares about Obama's pen

None of his executive orders have been applied thus far, gun control being the most hilarious one

Mon, 11/03/2014 - 10:09 | 5406416 LULZBank
LULZBank's picture

Dont be too hard on him. He starts crying.

Mon, 11/03/2014 - 10:13 | 5406435 ekm1
ekm1's picture

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

Mon, 11/03/2014 - 10:25 | 5406478 LULZBank
LULZBank's picture

Dont be disappearing after 31 Dec 2014, like after 31 May 2013.

I'll be waiting.

Mon, 11/03/2014 - 10:34 | 5406503 ekm1
ekm1's picture

I won't

All my structural predictions have been 100% fulfilled.

100% success

 

Time related prediction? Who cares

Mon, 11/03/2014 - 10:04 | 5406395 Comte d'herblay
Comte d'herblay's picture

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? 

 

 

Mon, 11/03/2014 - 10:08 | 5406410 Raoul_Luke
Raoul_Luke's picture

I don't know why they keep putting this moron on the air.  Is there nobody else available???

Mon, 11/03/2014 - 10:09 | 5406412 SheepDog-One
SheepDog-One's picture

'I was wrong....here now let me give you some more sage advice'
Oh fuck off Gartmann.

Mon, 11/03/2014 - 10:11 | 5406418 x476MJx
x476MJx's picture

I'm pretty sure this guy is really Cartman.

Mon, 11/03/2014 - 10:15 | 5406433 russwinter
russwinter's picture

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. 

Mon, 11/03/2014 - 10:31 | 5406495 orangegeek
orangegeek's picture

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.

Mon, 11/03/2014 - 10:44 | 5406540 insanelysane
insanelysane's picture

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?

Mon, 11/03/2014 - 10:48 | 5406553 Jahbulon
Jahbulon's picture

They should make Gartman voo-doo dolls.........

 

Or give him a show right after Cramer? 

Mon, 11/03/2014 - 11:10 | 5406664 vegas
vegas's picture

Gartman Stolper & Cramer - Does it get any better than this? Just look what you get for $29.95! Call now [ 1 800 EAT SHIT] and get 2 free Sham-Wow shammies! WTF

 

www.traderzoo.mobi

Mon, 11/03/2014 - 11:33 | 5406753 Father Lucifer
Father Lucifer's picture

Just sold. Thanks for the tip Mister G.

Mon, 11/03/2014 - 11:38 | 5406772 lasvegaspersona
lasvegaspersona's picture

proving that no conviction remains...there are no guiding principles left.

Mon, 11/03/2014 - 13:35 | 5407216 PiratePiggy
PiratePiggy's picture

"It's always good to be Sean"   - Dennis Gartman

 

"Sometimes it's not, Dennis"   - PiratePiggy

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