Market Letter

One market-letter writer was featured prominently in the Sunday New York Times for being bearish in July of 1996, as the market dropped rapidly. ❋ David Dreman (1998)

The truth is, market-letter writers have been wrong in their judgments far more often than they would like to remember. ❋ David Dreman (1998)

(Oct. 17, 1929) Goodbody market-letter in New York Times: "We feel that fundamentally Wall Street is sound, and that for people who can afford to pay for them outright, good stocks are cheap at these prices." ❋ Paul B. Farrell (2010)

Eugene Lerner, a former finance professor who heads Disciplined Investment Advisors, a market-letter writer, speaking of what making a bearish call in a declining market can do, said, If the market goes down for the next three years you’ll be as rich as Croesus… . ❋ David Dreman (1998)

This is the sad lesson to be learned from the records of the market-letter writers above and from the turbo-charged, aggressive growth managers of mutual funds in the mid-eighties, many of whom forlornly traded their hot hands in for a bartender’s apron or UPS uniforms after decimating their clients’ portfolios. ❋ David Dreman (1998)