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What MoneyWeek got right The commodities supercycle (Oct 2001) Buy gold (Sep 2002) The US housing bubble (March 2005) The credit crunch (July 2007) Sell the banks (Feb 2008) Trump, Corbyn and populism (Sep 2015) Post-Covid inflation (May 2020) What MoneyWeek got wrong We are all instinctively value-orientated (it tends to beat growth in the long term), and this meant we were often too sceptical of technology stocks. We said Google was overvalued at its flotation in 2004, when the share price was $85. Now it would be $2,330 if the stock hadn’t split in 2022. Being structurally bearish in view of the endless money printing, and central-bank interference in the business cycle, sometimes meant being insufficiently cyclically bullish over the years – that liquidity has to go somewhere, after all. Columnist Max King has been a useful bullish corrective to our scepticism over the past decade or so. He is also sceptical when he needs to be, however: he rightly urged readers to get out of Neil Woodford’s Patient Capital Trust in early 2018. This article was first published in MoneyWeek's magazine. Enjoy exclusive early access to news, opinion and analysis from our team of financial experts with a MoneyWeek subscription.
