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Every successful investor needs to take a hard look in the mirror occasionally to ensure that he or she is focused, on point, and most importantly, making money.
Today, it's my turn.
I've spent some time examining how my advice played out last year with one question on my mind…
…did I help you make money?
Some call this transparency, but I call it "owning up" – warts and all!
Here's your full report on how I did for you in 2016.
I've been known to make some jaw-dropping predictions over the years, including both the dot-bomb crash and Global Financial Crisis, the rise of oil prices to $150 a barrel, the Chinese buying Hummer, the ascent of the Japanese yen in a trade that helped readers double returns achieved by legendary traders like George Soros, and even Brexit… to name a few.
But those things all pale in comparison to what I said on Nov. 5, three days ahead of the most contested U.S. presidential election in history.
My Most "Out There" Prediction: What Trump Would Mean for Markets
FOX Business Network host Stuart Varney of "Varney & Co." asked me point blank what the markets would do if Trump won and my answer stopped him cold.
There would be a "rip your face off rally," I said.
Bear in mind this was at a time when legions of "experts" were calling for a massive decline, including such notables as Nobel Prize-winning economist and New York Times columnist Dr. Paul Krugman, MIT Professor Simon Johnson, and American entrepreneur Mark Cuban, among others.
I'm not a genius, but something the legendary Jim Rogers said to me years ago rang very true at that moment. "When everybody knows something to be true, you need to look at the other side of the trade." So I did.
The economic backdrop reflected the earliest stage of an earnings reversal. Traders I spoke with around the world were looking to go long and popular sentiment was excessively bearish, an important detail that's almost always a powerful contrarian indicator.
Long story short, you know what happened. The Dow, S&P 500 and Nasdaq all took off like a rocket, and investors who stayed "in to win" did… win, that is.
How My Calls for a "Retail Ice Age" Held Up
Last May, I was asked on FOX Business Network about the carnage in the retail sector, and specifically the slumping share prices of Macy's Inc. (NYSE: M), Kohl's Corp. (NYSE: KSS), Target Corp. (NYSE: TGT), and JCPenney Co. Inc. (NYSE: JCP).
Would I buy any of them? I said no, pointing to falling earnings and the fact that the brick-and-mortar retailers were in serious trouble from an investing perspective. The better bet would be online alternatives like Amazon.com Inc. (Nasdaq: AMZN), Alibaba Group Holding Ltd. (NYSE: BABA), and even Alphabet Inc. (Nasdaq: GOOGL) – I said at the time.
This one's tough to call.
Online sales volumes h…
About the Author
Keith Fitz-Gerald has been the Chief Investment Strategist for the Money Morning team since 2007. He's a seasoned market analyst with decades of experience, and a highly accurate track record. Keith regularly travels the world in search of investment opportunities others don't yet see or understand. In addition to heading The Money Map Report, Keith runs High Velocity Profits, which aims to get in, target gains, and get out clean. In his weekly Total Wealth, Keith has broken down his 30-plus years of success into three parts: Trends, Risk Assessment, and Tactics – meaning the exact techniques for making money. Sign up is free at totalwealthresearch.com.