Michael Covel Prediction: “The Dow Will Go to 5000 to 100,000 and Back to 5000!”

My prediction is more exciting, right?

6 thoughts on “Michael Covel Prediction: “The Dow Will Go to 5000 to 100,000 and Back to 5000!”

  1. Maye he will be right, maybe he won’t be who knows…these people sound ridiculous with these predictions…

    Dent wrote a book in late 90s prediciting major bull cycle through 2006 or 2008 and ML launched a fund with him called the Dent Demographics Fund that got crushed…

    Everyone wants to ge a hero…

  2. this proves if you make enough predictions, sooner or later one may hit…

    from wiki…

    In 2000, based on his forecast that economic growth would continue throughout the 2000s, Dent predicted that the DOW would reach 40k, a prediction which was repeated in his 2004 book. In his book, he also predicted the NASDAQ would reach 13-20k. In late 2006 he revised his forecasts to much lower levels, estimating the Dow would reach 16-18k and the NASDAQ 3-4k. In January 2006, he predicted that the DOW would reach 14-15k by the end of the year. It ended 2006 at 12,463, 11% below the lower end of his prediction. It ended 2007 at 13,264, again significantly lower than Dent’s revised prediction of 15,000 by early 2008. Since then, the Dow crossed 14,000 in late 2007 before retreating.

  3. Saw this yesterday, was going to send to you.

    When I tell people about trend following they look at me like I’m selling them an infomercial…I try to explain to them that buying and hoping IS the infomercial because you don’t have to do any work! You just set your portfolio and forget it! The insta-investment, from Ronco!

  4. Funny. I just looked this guy up and his office is on the same street I live on. Maybe I should stop by on my way home today and ask him to predict the lottery numbers for me too.

  5. Dent is a phony. I was a fin. advisor in early 2000’s (no longer have licenses, nor practice) and I believe it was AIM funds, now Invesco or the Mutual Fund company that made enough 12b-1 fees to buy a football stadium in Denver … anyway the wholesalers there, were passing out Dent’s book, “Dow 20,000” like there were dollar bills hidden within the book.
    I am beginning to think one can make more money coming up with crazy predictions, packaged within 150 pages, then actually spending the time to learn the skill of trading.

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