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Mullooly Asset Management

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Predictions: Can We Always Trust The Financial Experts?

June 28, 2011 by Thomas Mullooly

Weekly Commentary for May 3, 2011

Job well done by our Armed Forces.

A few folks I saw Monday morning before the stock market opened, told ME this OBL news just “has to be great” for the market.  “The market should really fly today” they said.

So…what happened? A thud.  Why?

There is no *one* answer for that. Just remember the market will OFTEN do just the opposite of what most folks on Main Street expect it to do.

***** ***** *****

If you are relying on a blog post for specific investment advice, you are making a huge mistake. Please speak with an investment adviser before making ANY investment decisions.

If you do not have an investment adviser, we encourage you to contact Mullooly Asset Management at 732-223-9000, or through our website.

Under no circumstances should the content discussed on this post be considered specific investment advice.

The most recent example was exactly one year ago.  The euro was in big trouble, because Greece was on the skids, and “everybody knew” Ireland, Italy Portugal and Spain would be close behind.

Many “experts” in the market “predicted” the euro would drop below $1.00. Some even predicted the euro would cease to exist.

Predictions. All predictions.  Today the euro is 20% higher…a “gi-normous” move for a currency.

Don’t get too hung up on predictions. Whether it’s from your favorite guy or gal on CNBC or the guy wearing the loud pants and the lampshade at the party this weekend.

They are simply guessing.

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Filed Under: Asset Management, Stock Market Comments Tagged With: Financial Planner

About Thomas Mullooly

Thomas Mullooly is owner and founder of Mullooly Asset Management, Inc. In 2002 Tom opened Mullooly Asset Management, a fee-only investment advisory firm. As an investment advisor, and not a broker, Tom works strictly for his clients. With the help of point and figure charting, Tom builds a realistic game plan for clients.

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The information on this website and blog do not involve the rendering of personalized investment advice. A professional advisor should be consulted before implementing any of the options presented. None of the content contained in this website should be construed as legal or tax advice. Always consult an attorney or tax professional regarding your specific legal or tax situation.

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