Mover Mike

Here’s another prognosticator that needs to fess up, “Ask Uncle Bill.” Back on March 22, 2006, Uncle Bill said,

The bull market is not over. It is not over because most people don’t even think we are in one.

In a comment to his post I wrote,

(You said) “companies have strong balance sheets”
Have you checked out GE’s website: As a result of GE’s restatement of its financial information in its amended 2004 Form 10-K dated May 6, 2005, readers should no longer rely on our previously filed financial statements and other financial information for the years and for each of the quarters in the years 2004, 2003, 2002 and 2001. Readers should also no longer rely on our previously announced results for the first quarter of 2005.

Then you say “The dollar is up, not down.”
What you had is a mini rally in a bear market from 80 to 91, after a fall from 120 to 80, Big deal! Now it appears to be rolling over. I won’t even bother to critique the rest of your points.
Mover mike

I took a look at the Dow since March, 2006. It was around 11,000 when Uncle Bill wrote this. A year later it hit 14,000, then proceeded to fall over 50% to 6,469.

GE was in the mid-$30s in 2006 and hit bottom in 2009 at $5.61. As for the USD, it went from 91 to 71, had another rally to the 90 area and is currently under 78.

I have no idea if Ask Uncle Bill ever issued a mea culpa, because there is no archive on his site that I can find.

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