THE 2003 WALL STREET “BULL”

December 30, 2003

With one half day to go in this year for the stock market (it closes early Tuesday), the Dow is down 1,600, the Nas-dog down 550, and the S&P500 is down 200+.

As we started this year, 98% of the Wall Street analysts predicted the market would be UP of course because the market could not go down three years in a row (where’d that logic come from?). And, the top 22 experts from Louis Ruykeyser’s “Wall Street Week” told us the Dow would close at 12,100 not 8,362 as I write this. Not one of them had the Dow closing under 10,000- but it will!

By the way, these same 22 “experts” also grossly missed in 2001. But, not to be swayed from their “perma-bull” nature, they are now saying the market can’t go down for four years in a row and most are saying that there will be a 10-30% rise.

Business Week just polled 67 “experts” of which 64 said the market would be UP in 2003. Did I mention that all these “experts” are in the business of SELLING stocks and who would ever buy stocks that are predicted to be down in the future? So, they LIE! Oh, well, maybe they just exeggerate- and some even go to jail and pay horrendous fines now as a result.

Then there’s Abbey Joseph Cohen. Remember her? She’s the Goldman, Sachs investment guru who keeps getting it wrong year after year. But, 2003 will be different because she says stocks are way under valued. You know what that is? Wall Street BULL! The only BULL left on Wall Street is that which is coming out of the mouths of those who’s income is predicated on you buying their stocks.

Wednesday, I’ll post my TEN PREDICTIONS for 2003. Then after 365 days, we can all look back and see who was really FULL OF IT!