Just for fun, here are some people/publications who made money by being wrong in 2008...
The worst media calls of 2008
It takes powerful trends to push the economy into a recession and produce one of the stock market's worst years since the Great Depression. So how did these pundits and commentators get things so wrong?
By Kiplinger's Personal Finance Magazine
What a year. The economy nose-dived. U.S. stocks have lost 38% of their value. And those of us who earn a living trying to peer into the future had our comeuppance.
Along with all the bad news, the panic of '08 will be remembered for a bumper crop of wrong predictions from pundits, prognosticators and analysts of all stripes.
Here are a few bloopers from a year that turned out to be a bust on many levels. See if you agree.
Larry Kudlow, economist and syndicated columnist
What he said: "With the U.S. dollar up and oil down and businesses investing, I think (the) Goldilocks (economy) is back in business." -- Aug. 28 on CNBC's "Kudlow & Company"
What happened next: Several weeks later, Lehman Bros. (LEHMQ, news, msgs) filed for Chapter 11 bankruptcy protection and signed an agreement to be taken over by Barclays (BCS, news, msgs).
What he's saying now: "Who knew about Lehman, AIG (AIG, news, msgs) and the LIBOR (interbank-lending) freeze? But we will see Goldilocks again."
Worth Magazine
What the magazine said: "Emerging markets are now the global investors' (sic) safe haven of choice." -- April/May 2008
What happened next: Emerging-markets stocks shed 52% of their value in 2008, through Dec. 19.
What they're saying now: Nothing. (Worth didn't respond to our request for comment.)
Kiplinger's Personal Finance Magazine
What we said: Stock investors should "beat the rush to the banks." -- November 2008
What happened next: The banking industry has come to the brink of collapse over the past few months.
What we're saying now: "We grossly underestimated the risks of these companies, but at least all our picks are still in business." -- Elizabeth Ody, author of this article
Suze Orman, personal finance adviser and author
What she said: "If any of you have your money at brokerage firms in a money-market (mutual) fund that is not FDIC-insured, you better switch it out today to either a money-market account that's insured, a bank that has FDIC insurance or a money-market fund that invests in Treasurys." – Sept. 23 on "The Oprah Winfrey Show"
What happened next: The U.S. Treasury had already announced a guarantee of money-market mutual funds. Wouldn't a run on these funds help fuel a financial meltdown?
What she's saying now: "It is far better to be safe than sorry."
more.......
http://articles.moneycentral.msn.com/Investing/Extra/the-worst-media-calls-of-2008.aspx