Thursday, September 1, 2011

CNBC's Bob Pisani does a segment on gold

Anybody see the irony of this?  Here are his previous wrong calls on gold:

One of his 2011 predictions:
4. Gold declines but other commodities gain.
The gold bubble finally bursts, with gold stocks falling 20 percent, but other commodities and commodity stocks continue to outperform as global demand for copper and other base metals improves.
His prediction in 2000:
"It looks like gold is crossing over $300 this week, but trust me folks, gold is going nowhere." - Bob Pisani, CNBC February 2000
Trust him?  Gold was $300 in 2000, and in 2011, it is now over $1800, and we should have TRUSTED him?  Meanwhile, the stock market has crashed TWICE since then, while real estate has also rolled over.  Yet, we're supposed to trust this clown?

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