Originally Posted by mork
Garth Turner wrong? That's silly, he said these things and it was shown to be correct....
In a Canoe "Money" chat room back on Sept. 27, 2000, Turner assured participants that the stock market was undergoing a mini-correction, that the Dow would hit 30,000 by 2006, and that "Nortel [then trading at $96.60] is a wonderful company and, given the recent decline, I think it is a strong 'buy.'" That day, the TSE closed at 10,250.
Or in 1999 when he wrote
Inflation is rising and some are even suggesting that the governments are manipulating the figures to keep the figures lower than they actually are.
Actually I think he is still saying that one.
But my three favourties (all from his 1999 book New Rules for the New Age)
“The Canadian Peso: A steady slide over the last 15 years. There is little reason to believe this trend will stop, increasing the argument for putting more of your wealth into something more stable, like the U.S. dollar.”
“Stocks will be higher in a decade than they are today. Between 1990 and 2000 the Dow went up 500%. Do you really think that between 2000 and 2010 it will go down?”
“By 2005 Ford will dominate in a way that it has not since the Depression-era 1930.”
This is not to say that Garth is wrong about real estate. It is to show that when you make predictions you are likely to be wrong pretty often. So to take any person's predictions as the gospel isn't too wise. That said, watch out for 2012!