Business Insider…….While gold prices were on their ascent, we heard some bullish calls from high-profile Wall Streeters that would make dotcom era equity analysts blush. For whatever reason, gold ultra-bulls argued that the precious metal would be worth multiples of where it is today. We’ve heard targets from $5,000 to $46,000.
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Do these guys just sit around and go “I reckon gold will go up” and then look for confirmatory information? If I ran my business with such outrageous inaccuracy it would be all over in a month…and the body count would probably be fairly high….
I think they are clearly clueless when it comes to knowing anything about markets and how they function. What they are addicted to is appearing in the media and the more outrageous and the more certain you are in your prediction the more often you get invited back.