James Altucher Takes Credit for Rally Off 2009 Lows: ‘It’s Not Bragging If It’s True’
"It's not bragging if it's true."
That's according to author, entrepreneur and wunderkind James Altucher. He claims that he's responsible for the U.S. market rally that began in March 2009. And what a rally it's been... The S&P 500 (GSPC) bottomed out at 666 in early 2009 and has since climbed back to over 1600. That's about a 150% jump in just over four years.
Many theories have been given to explain this historic rally, most beginning and ending with the Fed. But Altucher tells The Daily Ticker he played a critical part in kickstarting the market rally by handing out chocolates to distressed-looking traders at the door of the New York Stock Exchange in March 2009. Chocolate, packing a serious endorphin-punch, led to more risk-taking, and consequently, the market soared. Or so says Altucher. Perhaps we could call it the Hershey's Chocolate Rally of '09.
That led us here at The Daily Ticker to compile a list of similar jaw-dropping, eye-opening statements of "fact" over the years. Here's our own quickly compiled list:
Al Gore: I invented the Internet.
Kanye West: I'm the next Steve Jobs.
George W. Bush: Mission Accomplished.
John Lennon: The Beatles are more popular than Jesus.
Richard Nixon: I am not a crook.
Dean Kamen: The Segway will change the world.
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