The Odds of Recession Is Over Version 2.0 Occurring Are as Likely as People Realizing Michael Moore is a Capitalist

In looking over some of the Peter Schiff was right videos from the past few years, I ran across one of CNBC's regulars, Dennis Kneale's predictions in June of 2008 that "the recession is over." In this video Kneale uses the old axiom touted by some financial advisors and the media that the percentage you should invest in stocks is calculated by taking 110 minus your age.  So if you were 70 years old, then 110 - 70 = 40% of your portfolio should be invested in stocks.  Personally I don't agree … [Read more...]