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Mark Hulbert: Dr. Copper’s advice about the stock market is a waste of your pennies

One of the most bearish forecasts for stocks nowadays is coming from Dr. Copper, though it’s not clear that you should place much importance on it.

By “Dr. Copper,” of course, I’m referring to copper’s alleged ability to forecast the economy in general and the stock market in particular. Many years ago, some on Wall Street became so impressed with copper in this regard that they concluded the metal must have a Ph.D. in economics.

Perhaps Dr. Copper should go back to grad school. Copper prices hit a high in early 2011 and have declined steadily since — now down 40% from that peak.

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