Tony Robbins warns of market crash
Motivational speaker makes a move to market predictions. Do you believe him?
Tony Robbins may be rightfully known as one of the best motivational speakers of his generation. He's helped many people who sing his praises.
But a market prognosticator? I'm not so sure.
Recently, Robbins jumped on the 'market is doomed' bandwagon, producing a video warning anyone willing to listen that a crash of epic proportion may be coming in the near future.
You can view the message here.
He's really just jumping on the bandwagon, though he does come across in a rather compelling fashion.
Of course, convincing speaking is what this man does. I'm not sure we should give much credence to what he says, though.
If anything, this video could very well be the most significant contrarian indicator we have seen in a long time. When people who have no business predicting outcomes in markets jump in, take the advice with a grain of salt.
In fact, the smart money will look at this message and do the exact opposite.
When the sheep run for the hills, the professional investor will buy. It may be a bit counter-intuitive, but when a pop-culture guy like Robbins predicts the worst, usually the best is the likely outcome.
To be fair, I am market neutral at the moment. I too think stocks may be in for a rough ride in the short term.
But readers should keep in mind my own motivation for such a stance.
Specifically my Top Stocks for 2010 with small changes made and noted here in my blog was up double digits when I moved to a more conservative position in the market.
I’m rather riding a wave at the moment whereby there very well may be selling based on the absence of positive news.
That said, with more and more people crying Chicken Little, I’m inclined to believe that stocks will be headed higher.
(Unlike Tony Robbins, I have a long history of market calls that have been right on the number. If you have an investment portfolio of $500,000 or more send me an e-mail to firstname.lastname@example.org and I will put you on my list to receive my commentary absolutely free.)
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'We're not exactly in a uniformly strong market,' says the notably pessimistic newsletter publisher.
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