Ken Moraif is a radio personality that also runs the Retirement Planners of America, a financial advisory firm. In January, he made a fearless prediction for 2020 of DOW 31,000. In the interview, he stated there will be a recession and bear market some day, but not this year.
I'm pointing this out because as part of his radio pitch for new customers, he brags about having warned all his clients in 2007 to get out of the stock market, then to buy in 2009. I don't know if he did or didn't, but if he did, it was clearly luck. He claims their models can see recessions coming and he can protect your nest egg by letting you know when to sell. Just another example of hubris. I am chuckling at how he is going to spin this on his show. More likely, he'll ignore it and just talk about great recession like the current meltdown never happened. Good luck, Ken!
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