I don't see how this changes the fact that he was right and knows what he's talking about.
Yet the only people we rely on to tell us 1) how to make things better and 2) if we're recovered, are those who were dead wrong.
And yes he wants to provide accurate advice for his customers. What a terrible person. Tec Mason sells snake bite prevention pants, does that make him wrong for correctly informing me that it hurts to be bitten by a snake?
he is a terrible person. he's been wrong
a lot more than he's been right
, and it's not exactly like his clients have reaped any benefits
from his supposed prescience. if i make 100 predictions, and a big one is later proved correct while the rest are wrong - does that make me a genius, or a master of the law of averages?
if i have a fund, focused on international opportunities, that's reliant on getting capital inflows... wouldn't it be in my best interest to scare everyone out of american equities? shouldn't i go on cnbc and tell america the sky is falling, because even if it doesn't, i'll scare at least someone into moving their money to my fund? and if the sky does fall, won't my increased media presence as being a prognosticator (who by the way, has a perfect little fund for american-averse investors) ultimately lead to more investors giving me their money? and regardless of if i'm a genius or a relentless salesman, the loads i get on mutual fund purchases and the AUM fee i get on managed accounts ensure that i could tell CNBC and the world anything, and still make money for myself?
regardless of my schiff rant, i'd much rather take advice from those who didn't see how black the swan would become, with no vested personal economic interest other than reputation within bureaucracy/academia, rather than someone who can spout hyperbole on national television, occasionally be right, and laugh all the way to the bank.
and it wouldn't make tec mason wrong, given that it's a reasonable fact
that snake bites hurt. prognostication with assumed personal benefit from said prophecies isn't exactly a fair parallel.