Holding Skeptics to the Same Standard

Below, you'll see two comments that date back to around April 22, 2008. The exact article they were attached to can be found here. A permabear called me out, so to speak. Interpret what he said how you like, but I believe I've been proven correct since that comment just one month ago (and since my call to buy on March 10th).

I'm on record every single day, but skeptic comments like these can get lost in the shuffle. The other day, in our article entitled, "Wall Street Week Ahead - Kaminis Called Market Bottom," I reminded skeptics that they had called me an "Armageddon analyst" when their portfolios were rich and while I was warning of housing, financial sector, economic and stock market downturn. Then, this year, when we turned to positive on stocks, emails and comments like this started to surface.

My goal in republishing this comment is to illustrate to you the emotions of greed and fear. I'm sure if I searched long enough, I would find a similar comment criticising me last year when I was recommending investors preserve capital. Keep a level head and don't fall in love with your book.

April 22, 2008

2 Comments

Anonymous said...

Dude... stop trying to call a bottom. And stop this nonsense of resiliency. You used to be very legit, now you sound like another run of the mill analyst with some "interests" in mind, be keep client relationships, win business or what have you. Anyway, ever since your personal investment vision got in the way, I lost total interst in this page. See ya later Greek, hopefully you'll stop being just another analyst.

9:57 AM

MK said...

One of the faults we often make in society is in our generation of assumptions regarding the purposes and interests of others. We cannot possibly really know what others think and plan. When we act based on our own opinion, we are just as likely to act wrongly as we are to act correctly.

Be sure that I do not write one single word based on any other purpose but the truth. You talk about my "personal investment vision," and I'm not quite sure what you mean. If you think I am pushing a market opinion based on personal investment, you are greatly erred in your view of my character. Also, it would be nice if I was that powerful or that widely ready that I could move the market.

If you mean my business objectives, I hope you do not think I should give up the pursuit of happiness and financial well-being to serve the greater good... I'm not the Mother Teresa of financial advice. I do hope to survive only, and to help others with the excess. So far through this effort, I've made great sacrifice, and this work continues to reach you at great cost to me.

My purpose is to be a true independent voice, and one that can offer high quality, valuable ideas. I tell it like it is, and most permabulls did not want to hear it last summer, and now permabears don't want to hear it.

So, will I find any friends being the voice of reason? That's not my goal either. In the end, hopefully you will see that I was a stable voice while the herd ran in panic, just as I was the stable voice when the herd was full of greed.

Is catastrophe possible? Certainly, because our society is overlevered, but I believe we need another catalyst to get there, and you do not forecast that catalyst. I warn of it though.

I'll continue to do my best, and I hope you keep reading. I'm just sharing my opinion. If you only consider me "legit" when you agree with me, then you are looking for "yesmen" and I'm not one of those either. God bless, and no hard feelings. I'll do my best for you.

Markos