Carter Worth, the Chief Technical Analyst at Oppenheimer has left the firm for Sterne Agee.
This is big in the world of technical analysts. Worth is known for having predicted the 2007 market top to the week. He does a lot of media, and is widely known for writing what Ritholtz Wealth Management CEO Joshua Brown called The “Greatest. Research. Note. Ever.”
The note simply said: “We have no thoughts. Sell.”
The problem with that is that the note was dated June 24, 2013. Worth was making a strong bearish call on equities right as the stock market ripped up 30% for the year.
Since June 24th, the S&P 500 has climbed 16.35%.
In August of 2013, he was still beating the same drum.
If Worth’s epic report had been published just a few months later, the whole Street might be talking about what a genius he is as we speak.
Timing is everything.
Not that he’s short of fans: “He once told me that they only technical analysis book he’s ever read was *Edwards & Magee, and he read it 5 times,” said Eagle Bay Capital founder and fellow technical analyst J.C. Parets. “I thought that was…cool.”
*Edwards and Magee is the Bible of technical analysis.
Business Insider reached out to Worth for comment, we’ll update this post if we hear anything.
Read Worth’s epic research report below:
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