I have no grudge against James Altucher...but he has worked for the Street.com peddling one rediculous idea after the next. Certainly, this has to top the list...People came out with Silver $150 at the top when it was trading near 48 yo 50 per ounce...very few people shorted it there...I was one...and even fewer will tell you that silver is going below 4.39 while it is still trading near the 40's or 50's. I suggest that the mania is a little overheated here regarding the potential for companies to earn and earn and earn - in a vaccum of course.
The exonential extrapolation is so attractive that most don't even notice what they are doing when they make rediculous extrapolations...not even our illustrious Mr. Ben BURNanke can grasp the significance...so why should anyone else. That of course, was the reason that Warren Buffett gave as to why Moody's did not warn about the housing crisis.
Altucher is rather amusing and should probably get a hair cut soon to avoid looking like the caricature that he seems to be...back in your box James!
The top is apparently in!
