Chart of the Day: Chart of the Doomsday

Today’s Chart of the Day from JP Morgan shared by @StevenKelly49 on X shows the results of popular economists who predicted “Doomsday” scenarios and the return of selling stock and buying bonds at their suggestion. Yes, they are interesting to listen to (as opposed to me saying “just buy good stuff and hold forever,” which would not sell ads in between TV segments), and sadly yes, they may eventually be right, but so far, even after the COVID decline, it didn’t save them.

There is an old saying by American financial journalist Jason Zweig’s father about financial advisors that goes, “There are three ways to make a living:

1. Lie to people who want to be lied to, and you’ll get rich.
2. Tell the truth to those who want the truth, and you’ll make a living.
3. Tell the truth to those who want to be lied to, and you’ll go broke.”