Friday, June 25, 2010

The perils of financial forecasting

The week of 2 June I suggested BP might be a good short-term investment, advising a 'buy' on 7 June.
So, if you followed my advice, how've you made out so far?

7 June: BP closes at $36.76.
Today: BP closes at $27.02.
More than a 26% loss.
What's more: at no time since 7 June has BP's stock closed above $36.76.

Free advice: don't follow my advice!

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