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Poor and Stupid

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Is He Really Proud Of His Crappy Market Prediction?

Posted on 05/06/2007 20:23:08 | Link | Post Comment
Apparently. Look what's on the web site of Michael Panzner, author of Financial Armeggedon, with whom I crossed swords on CNBC's "Kudlow & Company" a month so back. Panzner proudly quotes Bill Cara, whom he describes as "long-time financial industry veteran and publisher of the popular business and finance blog, Bill Cara: Capital Markets & Social Equity" concerning that televised encounter:
On April 2, with Dow=12,382 flashing on the screen, Michael Panzner did speak out on the Kudlow Show, put up against the views of Don Luskin. A long time ago we put the clown suit on both Kudlow and Luskin. But Luskin, besides being a comic, has few peers among the least competent on Wall Street as I see it. But don?t get me started. Spend your time watching this video and making up your own mind.
Do that, indeed. Click on the link and watch the video -- make my day! -- with the Dow almost 1000 points higher since then. Has a single one of Panzner's ridiculous doomsday scenarios come true? If you'd shorted the Dow following his advice having watched that appearance on Kudlow, you'd already be 7% in the hole. Not sure why Panzner would brag about this. And I guess he's not interested in being invited back on Larry's show -- that stuff about "the clown suit" isn't exactly a polite way to talk about one's host.
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