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Fox's Stock Market "Experts" Bombed at Predictions for 2005

Reported by Melanie - January 31, 2006

On December 30, 2004, just over a year ago, four purported experts appeared on Your World w/Neil Cavuto and made predictions as to where the Dow would end in 2005. On that December '04 day, the Dow closed at 10,800. Here's what Fox's "experts" predicted for '05:

Rob Stein, of Astor Asset Management: "Slightly lower than where it is here."

Jordan Netburn, of Axiom Capital Management: "14,000 area."

Tom Adkins (aka Mr. Brenda Buttner), the founder of CommonConservative.com and a realtor: "I thought I was going to be the crazy man here saying 13 or 14, but I feel the same way."

Brenda Buttner, Fox's "Senior Business Correspondent": "With any significant tail winds, which we will get, the market is bound to go up at least 10% this year."

(My emphasis.)

Comment: At the end of 2005, the Dow closed at 10, 717.50, down 0.61% and "in the red for the first time since 2002."

Three of Fox's four - including Fox's "Senior Business Correspondent" - blew it bigtime (Mrs. and Mr. Buttner probably compared notes during their pillow talk the night before). Irresponsible and wild predictions like this can and should be expected when the primary goal is to cheerlead for the GOP -- authoritative and thoughtful analysis be damned. Watch Your World and get the "business news that matters — information we need to know to make the right choices" and invest at your own, propagandized, peril.

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