Does everyone remember the Royal Bank of Scotland’s announcement to “sell everything” because 2016 will be a “cataclysmic” year?
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?
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.
Sell everything! 2016 will be a ‘cataclysmic year,’ warns RBS (CNN Money)