Dennis Gartman Avoided Amazon Because He Couldn't Drop It on His Foot. He Missed a 170% Gain.

Dennis Gartman was one of Wall Street's most quoted pundits — and also one of its most consistent contrarian indicators. Traders literally used his calls as a reverse signal. When Gartman told Fox Business to avoid Amazon at $1,517 because he "doesn't understand" software companies and prefers investments that could physically injure him if dropped, it was peak Gartman. Amazon proceeded to grow into one of the world's most valuable companies. After a 20-for-1 stock split in 2022, that $1,517 share is now equivalent to $4,100 — a 170% gain. Gartman retired his newsletter in 2019, mercifully sparing us further foot-based investment analysis. For the record: AWS, Amazon's cloud software division that Gartman couldn't understand, now generates over $100 billion in annual revenue. Can't drop that on your foot either.