The Five Dumbest Things on Wall Street in the Last Year or So

4. Marcus Goodwin, Lose or Draw

The Psychic Investor doesn't belong in this roundup. When last we wrote about him, it was 2000, not 2003. The research lab hadn't even been founded yet.

But if we don't write about him now, we never will. So we must.

We met the Psychic Investor, formally known as Marcus Goodwin, back in the waning days of the Great Bull Market. He'd written a book called The Psychic Investor. At a meeting sponsored by the venerable New York Society of Securities Analysts, Goodwin was advising a group of investment professionals how they might use psychic powers to invest in the stock market.

Crazy, right? Illogical, no? But try to remember: Those were crazy, illogical times. As one attendee put it at the time, "Can you explain these Internet stocks? One thousand times earnings? Is that logical?"

Nowadays, Goodwin isn't so involved in stocks, though he does have some opinions about them. ("I think it's going to be a flat market over the next two, three years," he says. "I think the new formula for the market is trading. Everyone should do it. Not so much hold anything.")

Marcus Goodwin Forecasting your financial future

Instead, Goodwin is focusing on his music. He recently released a CD called "Buttcracker," an album that, among other songs, includes one about Lisa Marie Presley and Michael Jackson's sex life. This being a family publication, we can't say much more than that.

Is the music good? No, in our opinion. Is it memorable? Yes.

Which, appropriately enough, is exactly what we thought of Goodwin's stock picks.

< Previous

1 2 3 4 5

Next >