Catastrophically Wrong Forecaster Dick Morris Is Reinventing Himself As A Financial Expert

[alp227]

Conservative pundit Dick Morris, who wrote 2005's Condi vs. Hillary: The Next Great Presidential Race and predicted Mitt Romney would win the 2012 election in a "landslide," now wants you to trust him with your retirement savings.

According to a July 30 press release, Morris is working with Retirement Media Inc. "to educate seasoned investors on how to protect their savings with safe alternatives outside of the stock market." Morris is headlining several events in the next few months where attendees will "hear market predictions from him." The event's website includes a video featuring "A Special Message from Dick Morris" in which Morris warns of people preying on "suckers."

Why anyone would voluntarily listen to "predictions" from Morris is unclear. Morris has a history of comically wrong political forecasting, incorrectly gave credence to warnings of a 2013 stock market crash, and has sent numerous pitches through his email newsletter promoting penny stocks which subsequently tanked and are now virtually worthless.

full: http://mediamatters.org/blog/2014/07/30/catastrophically-wrong-forecaster-dick-morris-i/200264

[The Velveteen Ocelot]

1. Good. I can now become insanely wealthy

just by doing the exact opposite of what he advises.

[magical thyme]

5. you beat me to it...

There is much to be gained by listening closely to incompetent idiots

[louis-t]

2. Republicans and Dick Morris are particularly bad economists.

They've never learned that if economic policy is based on ideology and it doesn't work, then you should stop basing economic policy on ideology.

[Jackpine Radical]

6. Ah, but ("conservative") ideologically-driven economic policy DOES work.

It doesn't have to be accurate to work. IDEP is directly responsible for the rapidly growing rift between the rich & everyone else. IDEP provides a perfect rationale for destroying the social safety net in all its manifestations. IDEP permits the banks to privatize their profits & socialize their losses.

The best thing about IDEP is that it keeps the sheep angry at all the wrong things, and they never seem to catch on.

[NuclearDem]

3. Dick Morris had so much egg on his face after 2012

you could hit him with a frying pan and legally call him an omelet.

[The Velveteen Ocelot]

4. Stick a little bacon in his nose and you'd never know the difference.

[Jackpine Radical]

7. Already the only difference between Morris & bacon is the processing.

[MADem]

8. He is such a toxic person--who in their right mind would trust him with their opinion, never mind

their cash? This is pretty scary stuff!!!!

Morris' previous warning of a stock market crash proved wildly wrong. On August 7, 2013, he posted a piece headlined, "Prediction Of A Crash In Next Two Weeks." Morris wrote that Jim Fitzgibbon "predicts a massive drop in the stock market and the economy this month that will continue, with brief spurts upward, until the end of the year and beyond. His track record in predictions is extraordinary." Morris concluded: "This is not a paid ad. It is my heartfelt wish that you hear what he has to say and take it seriously." The stock market did not crash -- in 2013, the Dow Jones and S&P 500 posted their biggest percentage gains since 1995 and 1997, respectively.

An easy way to lose money is to listen to stock advice sent through Morris' email list. Morris has regularly sent sponsored emails for penny stocks -- risky micro-cap stocks that often lack transparency and a long track record -- from dubious compensated stock pitchers who promise to "potentially double or triple your money" and turn "$2,000" into "$132,000." Many of the stocks promoted through DickMorris.com have become virtually worthless. Here are just five examples since 2013 (current stock prices as of posting):

Morris sent an April 9 sponsored email from Champlain Media that touted American Heritage International (AHII) and advised readers to "buy now while the stock is still selling in the $1-2 range" so you could "potentially double or triple your money." The stock is now trading at $0.20.
Morris sent a January 6 sponsored email from The Myers Letter that touted Centor Energy (CNTO), claiming that "CNTO is set to jump from $1 to $8. And that's my short-term outlook. Longer term could see the stock climb to $25 and from there onwards to $100." The stock is now trading at $0.04.

http://mediamatters.org/blog/2014/07/30/catastrophically-wrong-forecaster-dick-morris-i/200264


But never mind--I wouldn't rely on him to give me the correct time....

[NightWatcher]

9. Invest your retirement savings in Prostitute Toe Sucking CD's

Anytime I see/hear his name all I think is "this man pays hookers to let him suck on their toes".