“You heard it here first − Apple stock could hit $2,000,” Rick Ferri writes for Forbes. “It is possible. Also, the Dow could double in the next couple of years. It IS possible. All media people should contact me directly for details because they are too sensitive to discuss here. I do television also.”
“Actually, I don’t believe that Apple stock will hit $2,000 or the Dow will double any time soon,” Ferri writes. “I made these big, bold, and outlandish predictions because someone will do it to get media attention, so that person might as well be me.”
Now that I have your attention, here is what I really have to say:
1. Don’t believe what you read or hear in the media about where a stock is going or where the market will be by a certain date. The people who make these predictions have no idea what prices will be in the future. They do it just for attention. Following their advice will probably make you poorer, not richer.
2. Stop paying ridiculously high fees for actively-managed mutual funds, investment advisors who think they can beat the market, and for model ETF portfolios that have multiple costs. It is all a waste of your money. The probability these methods will actually outperform the markets over the long-term are remote.
3. Invest in a broadly diversified portfolio of very-low cost portfolio of index funds or ETFs that match the return of the global markets. This strategy has the highest probability of meeting your financial goals.”
Read more in the full article here.