Hat Tip:Bond Lady
Here’s what well known investor Porinju Veliyath tweeted in Oct 2014.
Unitech @ 17.80 should appreciate by 50 to 100% in next one year or real estate prices should crash by 50%
— Porinju Veliyath (@porinju) October 27, 2014
Today Unitech closed at 4.15 Rs.
Forecasting Folly, anyone?
3 replies on “Forecasting Folly:Porinju Edition”
Neither Unitech has appreciated by 50 to 100%, nor, of course, realty prices have also crashed by 50% – even after one and a half years.
Really a forecasting folly.
When the market makes upward moves lot of people become great investors. Now the real mettle will come under test. I think his time of proposing low quality is over.
Regards,
Raj
I’m afraid that he has been called as Value Investor. Making mistakes are not an issue in stock market. Everyone make mistakes, have drawdowns and its not a big deal. But this is horrendous. Unbelievably pathetic and he has been asked to appear in television channel to talk about Value Investing. No Excuse.