There are pundits coming out of the woodwork claiming they predicted this mess. This includes Roubini, Schiff, Ritholtz, et al. (www.erictyson.com has excellent exposes on these folks).
The first commenter above is wrong and the second is right on the money.
Kevinof CT10:13AM February 23, 2009
Professor Siegel, as always, makes an excellent point. He is experienced enough to realize that NO ONE can predict the stock market, and that making a prediction on a recovery would be foolish. His wisdom is in realizing that, as in nature, spring and summer always follow a punishing winter. Siegel's words are encouragement for the intelligent investor who: has a long term time horizon (ten years or more), has money spread out over several asset classes (primarily stocks and bonds), and has a cash reserve fund equal to six to twelve months of income for any emergency which may pop up. If you want to get rich quick, play the lottery (good luck; you'll need it!) If you want to accumulate wealth over time, follow Siegel's advice.
David J. Smithof OH6:06PM January 04, 2009
Jeremy Siegel says the EXACT same thing in good times and bad, in sickness and in health....
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Kevin of CT 10:13AM February 23, 2009
David J. Smith of OH 6:06PM January 04, 2009
wharton student of PA 11:43AM October 20, 2008