Does everyone remember the Royal Bank of Scotland’s announcement to “sell everything” because 2016 will be a “cataclysmic” year?
No?
Well, that is what we do when we hear predictions. We tend to forget about predictions when they don’t come true and venerate the prognosticator if a prediction comes true.
I want to change that. I want to keep track of some of the big predictions and see what happens.
What would’ve happened if you followed RBS’ advice on January 12, 2016, and sold everything?
Chart courtesy of Stockcharts.com. Click image to enlarge.
The S&P 500 is up over 8%. Even after the worst start to the trading year since 1897, the S&P 500 is slightly positive on the year.
To be fair, we’re only a few months into 2016. Maybe RBS was a little off on their timing. We’ll check back later.
Source:
Sell everything! 2016 will be a ‘cataclysmic year,’ warns RBS (CNN Money)
