AP RedSuze Orman should try to make sense
September 29th 2008 22:00
Suze Orman, you don't work on CNBC for a reason.
I kind of thought she used to make a little sense and that her information didn't hurt people. Don't put it on the credit card, buy property as an investment, and buy stocks for the long term were some of the various tidbits she has said in the past that I honestly couldn't argue with.
Now that the U.S. economy hits a bump in the road, she says something very different.
If you are using stocks for your retirement, you shouldn't have been in the market to begin with. WHAT? You're the same person that says build wealth and let your money work for you, but now that the stock market takes a hit you say that people shouldn't be in the stock market.
Wolf Blitzer then says "So these people should take their money out of the market and put it in something like T-Bills?". Wolf makes some sense to me as if the market is gonna continue to go down, maybe you shouldn't go down with it.
Orman says no you shouldn't do that, you should keep your money in the market because it is impossible to time the market.
So if it is impossible to time the market, why are you saying the people who had their money in the market before were essentially stupid for having it in there? It's impossible to time the market afterall.
Not the stupidest thing she said though. She says the economy/stock market won't recover fully for 2-3-4 years up to her estimate of 2015. First off, 2015 is SEVEN years. Secondly, after saying 2015 is the recovery point she tells a common sense speaking Blitzer that people retiring soon should start buying more stock immediately. HUH?
So...the economy/stock market will keep going down for 2-3-4-7 years....but we should stick our money into the stock market even though its going down. Oh, but don't time the market. Oh, you're still stupid for having your money in to begin with.
Putting your money in now means you are timing the market as you think now is the low point. Predicting what the economy does 2-7 years down the road must mean you have a time-traveling DeLorean because nobody can predict even year to year what will happen.
Not a financial expert, not even saying which way to go with anybody's money but my own. I just want one viewpoint that isn't contradicted by her next viewpoint which is then contradicted by her third viewpoint.
Any Orman disciples or people that count on CNN for financial advice should just give up and put their cash under their mattresses and pickle jars in the backyard. Once they stop scratching their heads after trying to figure out what old Suze wants them to do.
I kind of thought she used to make a little sense and that her information didn't hurt people. Don't put it on the credit card, buy property as an investment, and buy stocks for the long term were some of the various tidbits she has said in the past that I honestly couldn't argue with.
Now that the U.S. economy hits a bump in the road, she says something very different.
If you are using stocks for your retirement, you shouldn't have been in the market to begin with. WHAT? You're the same person that says build wealth and let your money work for you, but now that the stock market takes a hit you say that people shouldn't be in the stock market.
Wolf Blitzer then says "So these people should take their money out of the market and put it in something like T-Bills?". Wolf makes some sense to me as if the market is gonna continue to go down, maybe you shouldn't go down with it.
Orman says no you shouldn't do that, you should keep your money in the market because it is impossible to time the market.
So if it is impossible to time the market, why are you saying the people who had their money in the market before were essentially stupid for having it in there? It's impossible to time the market afterall.
Not the stupidest thing she said though. She says the economy/stock market won't recover fully for 2-3-4 years up to her estimate of 2015. First off, 2015 is SEVEN years. Secondly, after saying 2015 is the recovery point she tells a common sense speaking Blitzer that people retiring soon should start buying more stock immediately. HUH?
So...the economy/stock market will keep going down for 2-3-4-7 years....but we should stick our money into the stock market even though its going down. Oh, but don't time the market. Oh, you're still stupid for having your money in to begin with.
Putting your money in now means you are timing the market as you think now is the low point. Predicting what the economy does 2-7 years down the road must mean you have a time-traveling DeLorean because nobody can predict even year to year what will happen.
Not a financial expert, not even saying which way to go with anybody's money but my own. I just want one viewpoint that isn't contradicted by her next viewpoint which is then contradicted by her third viewpoint.
Any Orman disciples or people that count on CNN for financial advice should just give up and put their cash under their mattresses and pickle jars in the backyard. Once they stop scratching their heads after trying to figure out what old Suze wants them to do.
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