Picking and grinning
The nation’s top stock market prognosticator may be a local chap. Edmond financial advisor Nick Massey appeared on CNBC late last year because he was the only professional investor in the nation they could find who would offer the outrageous prediction that the Dow Jones Industrial average might reach 15,000 in 2007. His bold prediction came when the Dow was hovering around 12,500.
On Thursday, the Dow closed above 14,000 for the first time. Massey is an interesting guy (a pianist, cyclist and former racecar driver) who was been quoted in the pages of our business section and has appeared on a NewsOK.com podcast. Nick’s market decisions are based on demographics. His bullish predictions arise from his observation that baby boomers are just entering their peak spending years. He expects that consumer spending, which drives much of our economy, will begin to decline around 2010. The portfolios he controls will hold few stocks by that time.
If you want to see Massey, tune into CNBC’s “Power Lunch” program on Friday. He’s schuduled to appear at 11:20 a.m. Oklahoma time. Although his earlier prediction was met with some skepticism, his current title on the CNBC schedule is “Market Maven.”
Don Mecoy
Business Writer
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