Sensex at 100000 in 2024. Yeah right!
A equity research group Elliot Wave International is predicting that Sensex will touch 100,000 points 15 years from now. When I read that there were these words – Yeah right. Like all the predictions came out true before this would be true too.
We are hovering around 10,000 mark now. So, 100,000 points looks feasible in 2024. But, that is not the point. Not even long-term investors has a horizon of 15 years. So, 15 years is too long a period to look at. And we never know if this research group exists in 2024.
My question is this. Should you pay attention to the research reports and the equity experts? When we see a 5 trading sessions with the mercury rising then suddenly it is a bull market. 5 trading sessions with the sensex going south is a bear market. If it is a mixed week then it will be range bound 8000-10000. Thank you very much. Don’t we know that already?
You might already be knowing it, but these so called experts have a disclaimer. That disclaimer says a lot of things but the bottom line is this – we are not accountable. So why would you pay attention to someone who is not accountable for what he says? I wouldn’t.
Some of these experts come from brokerage houses and they have vested interests in the stock they are recommending. They recommend it on TV because they have already recommended it for their clients. This is kind of a Catch-22 situation. The stock goes up because it was recommended and someone recommends because it is going up.
Anyway, the best expert you know of is you.
Would you pay attention to these research reports and the CNBC experts?