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Media Appearance: Kudlow & Company (8/28/07)

Posted By Barry Ritholtz On August 28, 2007 @ 4:15 pm In Media | Comments Disabled

Kc128x88 [1]

Tonite, its the regular show with Larry back from vacation. My pal Herb Greenberg of Marketwatch is on, as is Keith Wirtz of Fifth Third Bancorp.

Special appearance tonite: Dennis TOP TICK Kneale.

You may recall that the last time Dennis and I were on together, he pounded his chest about how right his uber-bullish calls were — on July 17, 2007. Two days later, the market topped and rolled over. Yes, thats correct, Dennis Kneal’s hubris-filled chest pounding PRECISELY nailed the market’s recent top.

As I noted the very next day [2]:

"It is inevitable that when a scribbler who does not manage money for a
living begins to pound his chest about calls he made — economic calls
that have so far proven to be incorrect — we are seeing a warning
sign. When the crowing has been emboldened by  a 1,400 point market
run, all it means is that we were overdue for some sort of correction."

-The Dennis Kneale Correction Top ! [2]

Don’t take my word on it — here is a chart:
Dennis_kneale [3]

The moral of the story: NEVER MAKE THE TRADING GODS ANGRY !

Article printed from The Big Picture: http://www.ritholtz.com/blog

URL to article: http://www.ritholtz.com/blog/2007/08/media-appearance-kudlow-company-82807/

URLs in this post:

[1] Image: http://moneycentral.msn.com/content/CNBCTV/TV_Info/P12129.asp

[2] As I noted the very next day: http://bigpicture.typepad.com/comments/2007/07/the-dennis-knea.html

[3] Image: http://bigpicture.typepad.com/.shared/image.html?/photos/uncategorized/2007/08/28/dennis_kneale.png

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