Be a Famous "Stopped Clock"

Talking Real Money - Investing Talk

Don McDonald

Education, Business, Investing, How To

4.5 • 811 Ratings

🗓️ 29 August 2023

⏱️ 20 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Apparently, to become a famous market prognosticator, you only need one accurate guess. Tom and Don wonder why we still hang on the advice of those who rarely, if ever, make a correct guess about market direction. Then we hear from some of you: Is my partner right to be concerned about my retirement portfolio? Is is too late to fund a 529 for older kids? Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Exclusively on Disney Plus.
0:02.0	It's hard and it's brutal and that's what makes it special.
0:06.0	The multi-award winning series, FX's The Bear, is back for a brand new season.
0:11.0	Upon my signal, unleash hell.
0:15.0	And every second counts.
0:17.0	When that shows zero, this restaurant ceases operations.
0:21.8	FX is the bear.
0:23.1	New season now streaming exclusively on Disney Plus.
0:27.1	18 plus subscription required season C's apply.
0:34.9	Reality radio for a really great future. We're talking real money.
0:41.3	Programming note. From now on, I am going to be purely a predicter. I am going to predict the market every single podcast. I'm going to tell you that the market, all I'm going to say is it's going to be up
0:55.4	or down in the future. I am not even going to define the future. I'm not going to tell you how
1:00.4	much up or down is. I am merely doing this so that I too can be rich and famous like people
1:07.9	all over Wall Street dating back to the 1920s.
1:14.6	What am I talking about?
1:16.5	You said, well, wait, Don is going to predict stuff?
1:18.4	Well, because apparently that is the path to fame, Tom.
1:24.3	It really, it's fascinating that, uh, you rich, famous, um, the way to do that is to make
1:32.5	sort of weird, wacky predictions. Well, this all comes up because, uh, the, the guy that was
1:39.4	the big short hero, right? Michael. Oh, yeah, the guy who called the whole big crash in 08 correctly.
1:45.6	Now says sooner or later a crash is coming and it could be terrific. And by the way, I don't think
1:51.7	terrific is a great word there because at the end of the day, it's going to cost a lot of us a lot.
	...

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