(4-11-14) In a recent CNBC interview, financial newsletter publisher Dennis Gartman, who edits the Gartman Letter, said he "got scared" and moved his equity exposure to near zero from 100%. "Friday morning I came back from the gym, and I was very comfortable: I owned aluminum, I owned coal, I owned money-center banks. Then between 11 a.m. and 11:15 a.m. it was as if they flipped the switch. Everything changed: stocks changed, bonds changed, gold changed, currency changed -- the whole world switched," said Gartman.
You can see this guy on CNBC almost every day, even though it should be noted that this is a guy who hasn't been right in a long while. Why? Because he keeps flip-flopping. One day he's a Gold bull, then he says it's time to short the Gold. The next day he's a Gold bull again. He does the same thing with the currencies. The problem is that he's got a reputation on CNBC.
Or as a tweet by Zero Hedge puts it: April 1: "Gartman explains why experience tells him to stay bullish on stocks.