4170 for me...
Markets are bad today, reflecting US markets poor performance last week. My fav story of last week was this:
Hedge fund billionaire Bill Ackman has quickly given up on Netflix. The head of Pershing Square Capital Management is $400 million poorer after selling the 3.1 million shares of Netflix that he bou…nypost.com
Bill Ackman's name crops up regularly in the media and on the TV finance channels as a talented investor and his opinions are sought after.
However, it was disclosed he lost $400m by selling Netflex, after only buying it sometime in January for $1.1bn!
Could you lose $400m in losses, from a $1.1bn investment in circa 3 months, before taking action? I think it unlikely.
I admire his fast decision-making, in cutting a bad investment, but as high and mighty as he's regarded, just looking at the state of the trends in Netflix - at the time he bought, never mind from a position of hindsight - at the time he invested!!!
- Makes you wonder about the mindset of some of these guru investor types.
It wasn't an honest error of judgement - instead, it would rank as a textbook pure investor-beginner error.
Reassuring to read of the gurus' feck-up's when depressing things happen in your own portfolios.
What if someone set him up?
Happens all the time. Peeps caressing a company only to pull the rug once everyone's got in.
He will need to look at his friends and analysts who sold him dud info and got misled. Maybe he was the loss leader to suck in other players. Who knows. One body in the know would be Netflix. They will know their subscription and cancellation numbers and what's around the corner. Those Netflix bodies will have golf buddies. Accountants who do the books. Board members etc.
These big investors don't move without some inside info. If you think he buys and sells based on his personal analytical skills outside of consultants, you would be underestimating the amount of insider trading and screwing that takes place in the trading industry imo.
Atilla, thanks. Just find this wonderful forum, good to join youHi Everyone,
First off wellcome to our new forecaster Snowsword
Always good to see new forecasters joining the competition. More the better. It is important to have a view on what others are thinking.
This week 17th of the year, we have 7 bears and 3 bulls. CavalierVerde is leading the bulls with a modest 33 point rise for his forecast. Our newcomer Snowsword is the most bearish with another 111 point drop pencilled in.
The average and trend following metrics are all down. Not much of a news week but for the Core Price Index in the states. That should stuff some more fear into inflationary pressures but who knows?
Wishing you all a good trading week.
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That's ok, it already exceeds my expectation. I find it pretty difficult to guess the Friday close price. Predicting the lowest or highest weekly price would be easier. I predicted the lowest price should be ~4130, which is very close to the real lowWell, I think you won but got no points
That's ok, it already exceeds my expectation. I find it pretty difficult to guess the Friday close price. Predicting the lowest or highest weekly price would be easier. I predicted the lowest price should be ~4130, which is very close to the real low