Following the gang of what’s popular and speculated to be the leading edge of investment, Robert Belfer, the oil Barron, lost billions with ENRON after which Bernie Madoff. Then he became a shareholder in FTX. With a track record like that, you actually could be firing your financial adviser.
The within joke about DAVOS is that regardless of the theme forecast they put out and what all of them speak about has NEVER been right. The joke is to do the alternative of the DAVOS forecast and you’ll become profitable. Andy Serwer, editor-in-chief of Yahoo Finance, asked Warren Buffett in a 2019 interview in regards to the DAVOS forecasts. He responded: “Well, I pay none as a tenet to doing anything,” Buffett responded. I actually have said persistently, the bulk MUST be incorrect for they supply the market energy to create the boom/bust cycle. Because the bulk buy the high, after they sell, you get the crash. When everyone seems to be short at the underside, you get the short-cover rally that makes the low.