A lot of backslapping, BS and self-congratulatory bluster going on CNBC and across financial media today on the 10-year anniversary of the Financial Crisis. It's enough to make you vomit.
The historical record reveals that none of them called it. In fact, not only did none of them call it ... many of them (Jim Cramer jumps to mind .. see this) actually told people to buy.
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Excerpt of Hedgeye CEO Keith McCullough this morning on The Macro Show: "I think it's a great time in Macro to be a young person who is just starting. Because you don't have to deal with having all that baggage that people have screwed up in Macro for the last two stock market crashes -- of which they're all backslapping themselves on it for solving ten years ago today. It's a complete joke. They didn't warn you of any of it. If anything, Warren Buffett in October of 2008 with CNBC backslapping the crap out of him saying "Hey this is the spot! This is the spot! This is the big bazooka spot, this is where you got to buy 'em. Buy 'em with both hands. If you bought them with both hands in October of 2008, you lost all your fingers." |
Watch the full clip below
