After being steadfastly bullish (and right) for the bulk of 2009, Fusion IQ's Barry Ritholtz started raising cash as the first quarter of 2010 came to a close. As of last Wednesday, the day before the Dow's heart-wrenching swoon, Ritholtz's firm was at 100% cash - as detailed on his blog."We had been lightening up a little bit as stocks got stopped out or hit our upside targets," he says. "Obviously the market was...entering a period of more volatility so we moved to 100% cash. The collapse the next day was more luck than anything. Sometimes it's better to be lucky than smart."
Given his track record, I'd say Ritholtz is equally lucky and smart - and yes I edited his book, Bailout Nation, so I'm biased. But the reality is few pundits have been as accurate as Ritholtz in calling big market moves, in both directions, in recent years.
So where does he think the market is going next? Watch the video from Yahoo!Finance:
Also check out:
Given his track record, I'd say Ritholtz is equally lucky and smart - and yes I edited his book, Bailout Nation, so I'm biased. But the reality is few pundits have been as accurate as Ritholtz in calling big market moves, in both directions, in recent years.
So where does he think the market is going next? Watch the video from Yahoo!Finance:
Also check out:
