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Appearing in Toronto, Canada, Houston-based economist and market strategist David L. Smith urged an audience of 200 Canadian investment advisers
to "return to basic investing principles that have been obscured by the present 'irrational exuberance' in the stock market," as the Dow traded above 9150. . . . Warns of an impending decline in stocks.
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Chautauqua, NY -- In a workshop entitled "Cyclical Investing: Mining
Economic Cycles For Consistent Profits" economist and market strategist David L. Smith revealed the consistent relationships between economic and investment cycles in stocks, bonds, precious metals, real estate and oil. Debunked 5 stock market myths.
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"Sell stocks." (Cyclical Investing Bulletin) Technical breakdown below support at
Dow 8,685 seen.
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"Buy stocks." E-mail bulletin recommends re-entry into stock market based on technical reversal as the Dow rises above 8,700.
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Houston, TX -- In a keynote address at the Fibre Box Association's annual
meeting, economist and futurist David L. Smith provided an upbeat assessment of NAFTA
five years after it went into effect.
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The Greenbrier, W.Va. -- Speaking at the 115th annual meeting of the
Association of Edison Illuminating Companies, in a presentation entitled "Profit and Peril
in the New Millennium," David L. Smith warned of "clouds in the silver lining," that could
take a toll on the "Goldilocks economy." The "clouds" included: 1) a stock market crash
due to overvaluation 2) a credit crunch due to excessive personal and corporate debt 3)
higher oil prices due to excessive dependence on foreign oil 4) a devaluation of the dollar
due to record trade deficits 5) a resurgence of inflation due to excessive expansion of the
money supply by the Fed 6) Foreign military and/or financial crises in an increasingly
unstable global economy 7) A third oil shock, caused by an interruption of oil supplies
from a major oil-producing region. Taking a long-term view, Smith pointed to "sunrise
sectors" of the economy and predicted electric utilities would eventually emerge as
environmental heroes in the "Hydrogen Age," selling electricity and pure water produced
with hydrogen fusion without pollution.
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"Sell stocks." Says Cyclical Investing author David L. Smith. Dow falls
below technical support at 11,326. Last of "top ten signs of a bull market peak" falls into
place.
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Tucson, AZ -- Whither the Dow? was the question of the hour at the
Bank Securities Association annual meeting at high noon in Tucson today. In a financial
version of the fabled gunfight at the OK Corral, James K. Glassman, co-author of “Dow
36,000” and David L. Smith, author of the Cyclical Investing newsletter squared off with
radically opposing views of the future of the stock market. |
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David L. Smith tours U.S. and Canada recently, warning of stock market
weakness and approaching recession. Speaks to American Society of Pension Actuaries,
American Association of Individual Investors, Institute of Management Accountants,
Canadian investment professionals, and is interviewed by WNPV, WMAY, KOU..
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David L. Smith tours U.S. warning of continued stock market
weakness and approaching recession. Speaks to Interbank Capital Partners, The St. Paul
Companies, National Lubricating Grease Institute, St. Luke's Hospital..
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David L. Smith quoted in The Wall Street Journal Online: "Falling stocks
and rising bonds means the markets see a recession coming. Yesterday's fall in
consumer confidence -- added to last month's decline in consumer credit plus recent
weak existing housing and back-to-school sales -- tells the market the other shoe is about
to drop."
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Cyclical Investing Comment: "Interesting Times." Following the
September 11 terrorist attack on New York and Washington, market strategist David L.
Smith reiterates January 4, 2000 recommendation to avoid stocks. Advises buying gold
and oil & gas.
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David L. Smith is keynote speaker at Office Business Center
Association International annual conference in San Antonio, TX, and Financial Planning
Association meetings in Alabama, Florida and Arizona. Offers "worst-case and best-case
scenarios" following September 11 attack. Warns of dangers of "blunt force" military
response to 9/11 using conventional military forces in the Middle East rather than focused
terrorist manhunts using multi-national Intelligence Community and International Police
assets.
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Article by David L. Smith in the December issue of Financial Planning
Magazine. "The Bad News Bears. For years the Fed chairman has kept the 'Goldilocks
Economy' from becoming too hot or too cold, but his strategy won't work in this bear
market.
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David L. Smith keynotes Ohio-Michigan Equipment Dealers
Association annual conference in Columbus, OH. Expresses somewhat more caution
than mainstream economists who expect prompt return to fairly strong economic growth
and gains in stock prices in 2002.
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David L. Smith addresses financial professionals in San Diego,
Sacramento and Los Angeles presenting "Profit and Peril at the Turn of the Century.
Economic and Financial AfterMath of September 11"
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