Money Morning Members who've been with us a while will remember my 2016 Forecast, when I called for the S&P 500 to drop 10% to 15% and predicted Marco Rubio would be headed to the White House.
Well, stocks hit my predicted target in the first month of 2016… and then spent the rest of the year recovering and rallying until well after the election Donald Trump won.
That's a fancy way of saying I was wrong, by a long shot. Now, in my free service alone, I made 14 very profitable long and short stock recommendations. But instead of the crash I expected and markets frankly deserved, we got an endless rally, albeit one totally divorced from economic fundamentals.
Investors shrugged off Brexit, Donald Trump, and the Italian constitutional referendum; disguise wholesale capital destruction as "stimulus," distribute it cheap-as-free worldwide, and you've got one helluva market drug.
That said, I may be the only guy currently in financial media who can honestly and freely admit that he was wrong. I've never shied away from making tough calls and holding people (including yours truly) accountable.
That's always been true, and that's the one thing that won't change in 2017.