According to one CNBC strategist speaking on the CNBC show Fast Money, he implied that the “recession countdown” clock has started, but the market will rally before the downturn begins.
This coverage of the “recession countdown” clock is the epitome of financial entertainment media hype. It brings to minds a quote from Warren Buffett…
“WE HAVE LONG FELT THAT THE ONLY VALUE OF STOCK FORECASTERS IS TO MAKE FORTUNE-TELLERS LOOK GOOD. ”
Warren Buffett is skeptical of the predictions of economic and financial forecasters, and we should be, too.
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