Agreed. Not to kick a guy when he's down but they were wrong. Why don't they just admit it. They got it entirely wrong.

Will they eventually get it right? Probably, but Jim Cramer, (whom we've all ridiculed at times and certainly has been front of the brunt of the joke called CNBC from the FSN crowd) will probably be on the metals bull buy then. However, Cramer won't be buying from a position of being down 60 to 80% down. He'll be buying from being down 30% or so.

One thing I've learned through all this is that all those so called experts were not really all that expert. There have only been 2 people I know of who really got this right. Roubini (whom most here are familiar with) and Taleb, who wrote the "Black Swan".

However, basic investment principals, those of the main stream investment community, have proven to stand up fairly well. By that, I mean, small percentage in small caps compared to large caps, a percentage in bonds, cash, 5 to 10% in gold and a diversified portfolio. While some might argue that such a portfolio is typically anchored in financials, I would also argue that Canadian financials have held up quite well. What's more, they are liquid and have always been easy to sell. On one of those most terrible days none of these stocks did worse than 5 or 6%, unlike the juniors that have dropped 20% or more on bad days.

Lesson learned for me, anyways. It's going to be a long climb back but I'm confident I'll get there eventually. Not by listining to JP though. I'd rather take financial advice from my 2 1/2 year old. I like the show and some of the guests though. I'm still a big fan of FB who has only suggested a 10% investment in gold and gold stocks throughout most of this meltdown.