Your Survival Guy

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A Stock Market Boom or Bust for 2024?

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Your Survival Guy received some Christmas emails asking about a certain economist’s stock market prediction that the bubble’s about to burst.

My take? Why ruin Christmas? Maybe he’s right, maybe he’s wrong. What I know for sure is he’s in the business of selling books and making headlines. That’s not acting like a fiduciary.

I remember back in 1998 when this same economist wrote a book calling for the roaring 2000s. The roar turned out to be the sound from investors pummeled by the tech bust a few years later.

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Then he called for, in 2004, another boom to come, taking a pass on the most recent foul ball. That boom turned out to be shrapnel from the housing crisis that ruined investors for a generation.

Not to lose stride, the same Mr. Nostradamus called for the 2010s to be a bust instead of the Fed-fueled boom that occurred. Another boat missed. Do you see the trend?

Now, he’s calling for a stock market bust. You know what they say about a broken clock.

If investors simply came up with a plan all those years ago and stuck with it, they wouldn’t have to worry about whether we’re going to see a boom or a bust.

Your Survival Guy’s been invested and operated as a fiduciary all through the years of this prediction and that. And I’m here to write; I’m still working side by side with you, dear readers.

Action Line: When a prognosticator is in the business of selling books and headlines, be careful to check your emotions at the door. If you’re worried, let’s talk about building a plan.

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E.J. Smith - Your Survival Guy

E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH. His first drum set was a 5-piece Slingerland with Zildjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West (RIP JB) and Paris. Please get in touch with E.J. at ejsmith@yoursurvivalguy.com To sign up for my free monthly Survive & Thrive letter, click here.

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