Nova Law

India Looking Good at Start of 2007: Considering Sify

Another day, another ridiculous post from Cara. Does he have a finance blog, or a comedy site?

Though he suggests buying here, Cara was quite emphatic in calling a top in the Indian market way back in August 2005:

<b>Bill Cara Calls a Top in the India Closed-End Funds (IFN, IIF)</b>

"I’m going to forecast that the closed-end Morgan Stanley India Investment Fund (NYSE: IIF) has reached a peak, and will now either decline or sidetrack for many months from this point. I think the enthusiasm has been overdone...", wrote Bill Cara on Aug 12 2005."

etf.seekingalpha.com/a...

IFN closed at 43 yesterday. So if you took Cara's advice when he advised selling at 38, you would have lost out on not only five points of upside, but also $6.12 in dividends. In other words, IFN is up 29% since Cara called a top and advised selling. Now IFN did top out over 60 in May 2006 - and did Cara have anything to say about it then?

Let's check his archives - for this is where it really gets funny. On May 10, 2006, just as IFN was reaching its multi-year top, he advised (with some hedging) that people ought to buy it.

www.billcara.com/archi...

This man's tin ear and lack of investing foresight is humorous for me, because I don't invest according to his recommendations. Instead of laughing, if you followed his advice, you could well be crying.