The abundance of market forecasts for the new year are before us once again. The following quotes might be useful to inoculate ourselves from those who seem to know how the market will play out this year.
“We’ve long felt that the only value of stock forecasters is to make fortune tellers look good.”
“We have two classes of forecasters: Those who don’t know – and those who don’t know they don’t know.”
John Kenneth Galbraith
“Forecasts create the mirage that the future is knowable.”
“It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so.”