"We've had a dramatic rally, and it needs to be corrected. But that doesn't mean the market has to go down ... I'd be surprised to see a big move one way or the other."So... the market has ran up a lot and should go down. But that does not mean it should go down. It may go nowhere.
The only thing missing from this analysis is another sentence along the lines of "... but I would not be shocked if the rally continued".
Aren't you just itching to hand over 2+% of your net worth annually so experts like this can manage what remains?
I was very worried at the time Meridith Whitney made her infamous muni bond default prediction. All of my bond allocation is in munis due to taxable nature of my investment portfolio. Her argument seemed very credible on the surface, but more rational analysis poked holes in her numbers. In the end, I did nothing. So far, so good.
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