Remember that NOBODY knows what direction the market will move short or long term …. or they would be a billionaire.

I was thinking today about the saying that “if someone really knew what the market will do they'd be a billionaire or at least have many millions.”

I usually watch cnbc daily and I get depressed when I hear things like “the market is only gonna return 2% for the next 10 years” or listen to Steve Weiss say the market is going to 3000 etc.

Well I also recall Steve Weiss a few months ago saying he's losing money….

Mike Wilson keeps coming on and saying the market will fall to 3000 and it still hasn't.

Jamie Dimon says rates “could go to 6%”….

Then you have permabears Jeremy Grantham coming in saying “we're gonna see the largest crash in history”…. we'll he's been saying things like that for 15 years.

I would safely bet that NOT ONE money manager that is on cnbc daily touting their market views and stocks etc are even beating the sp500 over any significant length of time.

Sure they'll come on and brag when things go their way for a year as Dan Niles has all year or people will say things like “Mike Wilson has been right all of 2022!!” Etc, but what these people fail to realize is that none of them beat the sp500 for 10 years straight. Meaning that you or I would've just been better of dollar cost averaging into VOO for example.

Seriously there are hardly ANY money managers that beat the sp500 after 5 and 10 years!

Some may get lucky for 5 years and beat it, but it's only a very small number and those numbers go down significantly after 10 years. That means you're paying a manager money to make you LESS than you would if you ignored all the bs and just added to an index fund like VTI every week, 2 weeks or month!

So remember when you watch these guys and think the world's coming to an end when these guys say this will happen or that.

Also take with a grain of salt the recommendations of stocks when people come on segments.

I have a feeling that part of the deal is you get to “recommend a couple stock positions”. It gets people watching and works out for the guest analysts.

Remember that if any of these people KNEW for certain what would happen they'd first of all , always beat the market and second of all they'd be billionaires!

As Cramer once exclaimed on a cnbc segment years ago during a market crash….. they know NOTHING!!!

Good luck all and keep the faith!