Predictions – Gary B. Smith, Jeremy Siegel, Laszlo Birinyi, Joseph Battipaglia
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Joe Battipaglia expects the economy to have a major slowdown given his prediction of $60 oil. I agree that oil will fall substantially in price since the economy will be in major trouble which will spill over worldwide. When the Asian contagion struck in the late 90’s, oil dropped to around $10 a barrel. Oil won’t get that low, but I could see it dropping below $50 eventually.
Gary B. Smith, Lazlo Birinyi, and Jeremy Siegel are bullish and financials seem to be the sector they would place their bets on. They will be sadly disappointed because the housing depression is in the 3rd inning and won’t end for another 3-4 years.
It’s probably unwise to rely on the television and print pundits to make your important financial decisions. Part of the reason I’m posting these predictions is to demonstrate how wrong the “experts” can be. Results will be posted in the future.
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