Deep Market Thoughts…There are NO Guru's!

I went to see the Miley Cyrus ‘Hannah Montana’ movie tonight with Rachel. Miley and/or her management team are freaking guru’s. In fact, there are a bazillion guru’s outside the financial markets.

BUT, there are no such thing as stock market guru’s, just people with opinions and ‘hot hands’.

In fact, you don’t even need a hot hand if you know how to play the media.

Despite the growth of blogs, microblogs and search, we are all guilty of being lazy and accepting what the loudest voices are saying from time to time. In the financial markets, that could make you broke.

Doug Kass is the ‘guru’ of the day in the stock world. He has one of the bigger pulpits from which to blog all things stock market and has been talking about ‘Generational’ stock market lows for a few months. Today, he looks right. I have been quoting him often of late as well.

After a reference to him today a reader pointed me to an article Doug wrote in January entitled ‘Buy The Financials ‘. If you had bought the financials that day, you would have suffred some serious pain and stress before the ‘Generational Lows’ were hit a few months later – like 30-40 percent!

There are tons of super smart stock market people on the ‘World Wide Web’, just no guru’s.

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