Fed cuts key rate by quarter-point

[xrayzebra]

^^^Oh Well, I will look up some stuff later. Have something else
to do right now......

[RandomGuy]

[Ken Fisher] must be some kinda of dunce.

Fisher is ranked #271 on the 2007 Forbes 400 list of richest Americans[2] and #677 on Forbes list of world billionaires.[3]

Based on stock recommendations in his monthly Forbes columns beginning January, 2001, CXO Advisory Group as of April 28th, 2008 ranks Ken Fisher as tied for the second place with James Oberweis with an accuracy rate of 65%[14]

Wikipedia entry for Ken Fisher One doesn't have to agree with what it says, but it does provide links for reading about the guy.

Intellectual honesty check:

Mr. Fisher does have his critics, as the wiki article points out.
Links to such articles:
4 page pdf file Wall Street Journal article

Businessweek article on some aggressive and potentially misleading sales techniques

Salon article that is critical of Fisher

(shrugs)

I have seen him speak, read a book of his, and he is no dunce.

BUT

He is far from infallible, as the above articles show. I give his advice a fair amount of weight, because he is right far more than he is wrong, and he has the time and resources to really gather and analyse a lot of data.

When he says that taxes have little overall effect on the economy, he presents solid economic data on economic conditions before and after such cuts/increases. The conclusions he draws from this data are pretty reasonable.

If you want to argue with his conclusions, you would have to get to the root of those decisions and attack the data itself.

Good luck with that. Maybe you will look beyond your blinders.

[RandomGuy]

Ray, this is how to tell the truth:

I have given both sides of the debate here, both things that point to him being fairly sharp, and some things that point out when he was wrong.

The sources you seem to be reading don't do that. You should be asking yourself why, and what they leave out.

[Nbadan]

Every major bank reduces their prime rate minutes after the Fed reduces the fed funds rate.

That's not necessarily true...I've found instances were banks have been reluctant to lower their prime for even the most credit worthy....but new home buyers with shady credit get lower rates....the system is wack....