There’s being wrong.

There’s being embarrassingly wrong.

And then there’s Dave Collum — the doom-prophet who has spent the last decade and a half predicting the financial apocalypse… while the S&P 500 went on one of the greatest wealth-building runs in human history.

This is the truth nobody in the doom echo chamber will say out loud:

Dave Collum is the poster child for what happens when a brilliant man wanders far outside his lane, refuses to learn, and discovers that fear sells better than accuracy.

Let’s break the whole circus apart.

1. RAW FACT: COLLUM HAS BEEN WRONG ABOUT EVERYTHING THAT MATTERS

This isn’t subjective.
This isn’t interpretation.
This is math.

For 15+ years straight, Collum has predicted:

systemic collapse
market implosion
60–80% crashes
the “end of the financial system”
unstoppable mean reversion
the Fed’s “complete powerlessness”

And what did markets do?

They went vertical.

The S&P 500: +550% to +800%
The Nasdaq: +1200%+

Dave’s “analysis” has the predictive power of a broken smoke alarm that goes off every morning at 3 AM.

2. COLLUM IS THE RARE KIND OF FORECASTER WHO IS NOT JUST WRONG — HE’S INVERTED

Normal wrong analysts occasionally get something right by accident.

Collum?
He’s the opposite.

If he says the market is doomed, it means the next bull run is warming up.
If he says valuations are “mathematically impossible,” it means tech is about to explode.
If he says the Fed is powerless, it means liquidity is about to rip.

He is anti-correlated with reality.

For 15 years.

Let that sink in.

3. COLLUM DOESN’T DO MACRO — HE DOES DOOM COSPLAY

Collum is a chemistry professor who wandered into macroeconomics and started acting like the smartest guy in every room — without any of the training, nuance, or tools the field requires.

He thinks:

CAPE is a law of physics
the 1970s are still the baseline for valuation
profit margins “must” revert
the Fed is a corpse
liquidity doesn’t matter
global capital flows don’t exist
tech margins are “delusional”

This isn’t macro.
This is nostalgia mixed with ideology wrapped in academic vocabulary.

He takes outdated 1970s valuation tools, misreads them, ignores everything that changed since the Cold War, and then calls the entire modern financial system “fake.”

4. HIS “FED IS POWERLESS” CLAIM IS PURE IDEOLOGICAL FICTION

Collum’s biggest tell that he doesn’t understand markets?

He repeats the same line over and over:

“The Fed is powerless.”

He said it in 2009.
He said it in 2010.
He said it in 2011.
He said it during QE.
He said it during ZIRP.
He said it during the pandemic crash—
right before the fastest rebound in market history.

The Fed wasn’t powerless.
It steamrolled his entire worldview.

To Collum, every Fed success is “manipulation,”
every stabilization is “fake,”
every recovery is “delusion.”

This isn’t analysis.
It’s coping.

5. COLLUM IS THE PERFECT PRODUCT FOR DOOM MEDIA

Why does he keep getting invited back?

Because doom sells.

Fear = clicks
Clicks = revenue
Revenue = “Bring Dave back for another episode.”

The doom ecosystem loves him because he:

sounds smart
speaks with absolute confidence
hates the Fed
hates modern finance
predicts Armageddon every year

He is the ideal content machine for outlets that survive on fear-based monetization.

Accuracy is irrelevant.
Emotion is everything.

6. COLLUM IS PSYCHOLOGICALLY INCAPABLE OF UPDATING HIS WORLDVIEW

When someone is wrong this consistently, this confidently, and this loudly, there’s only one explanation left:

The worldview isn’t analytical — it’s psychological.

Doom gives him:

identity
audience
contrarian status
a sense of rebellion
the fantasy of secret insight
the ego boost of being “the lone voice”

If he accepted that markets aren’t collapsing,
his entire persona would detonate.

So he can’t.
He won’t.

He’s trapped in the character he created.

7. INVESTORS WHO FOLLOWED COLLUM PAID THE PRICE

If you listened to Collum:

you sat in gold
you avoided equities
you waited for collapse
you missed the greatest bull market of your lifetime
you destroyed your compounding

Following him wasn’t just a mistake.
It was financial suicide.

8. THE COLLUM WORLDVIEW DOESN’T EXPLAIN MARKETS — IT EXPLAINS COLLUM

Once you remove the academic tone, the snark, the metaphors, the anti-Fed sermons, and the end-times fantasies, here’s what remains:

A man who built a personality around doom
…was wrong for 15 years
…and became unable to admit it
…so he replaced analysis with ideology
…and ideology with identity.

Markets didn’t fail.
He did.

But he can’t admit it.

So he keeps predicting collapse forever.

9. THE TRUTH DOOM MEDIA WON’T SAY OUT LOUD

Dave Collum is not a misunderstood genius.

He is not a contrarian visionary.

He is not “early.”

He is not “seeing what others don’t.”

He is the simplest thing of all:

A man who has been wrong so long he no longer knows how to be anything else.

10. THE FINAL PUNCHLINE

Collum doesn’t predict collapse.

He needs collapse.

It’s the only way his worldview survives.

It’s the only way his ego survives.

It's the only way his persona survives.

And that’s why he’ll keep predicting it—
even as markets march higher,
even as innovation transforms the world,
even as liquidity cycles prove him wrong again.

He’s not forecasting the future.

He’s protecting his identity.