Ravenwood - 02/07/05 07:30 AM
As if you needed another reason not to trust CNN/Money - who once took financial advice from world famous financier Billy Joel - now they are using the Super Bowl as a market prediction.
According to the formula, a win by a team that played in the old National Football League would give a lift to stocks. A championship by a team like the Patriots that played in the American Football League before the merger of the two circuits would let the bears run.Of course I like to think of the Pat's win as the Great Satan Imperialists stepping all over nature and crushing the endangered Eagle. But that's just me.But the indicator, which had about a 90 percent success rate predicting the market in its first XXXI years of existence, has had only one clean win in the past VII big games before Sunday. [...]
"It's been correct just under 80 percent of the time," he said recently. "I don't know of any other gaggle of gurus that has a record that good. Of course, I certainly wouldn't put real money into the market based on the game. But it's nice to know if it's on your side."
Stovall, now managing director and strategist at Wood Asset Management in Sarasota, Fla., is a University of Pennsylvania grad who was pulling for the Eagles -- an old NFL team -- even without the indicator making that the bullish call.
Heh. Yeah, I wonder what this does to Rush's "Wacko Environmentalist Picks" method.
Posted by: Thibodeaux at February 7, 2005 9:18 AM(c) Ravenwood and Associates, 1990 - 2014