Tomorrow’ s Advice From Yesterday’ s Advisors
What I really dislike about the first few weeks of the New Year is that everywhere you turn— from the front page of the newspaper to the business magazines to the financial channels on cable— you’ ll probably be subjected to some wide-eyed“ market expert” spouting ridiculous stock market predictions for the coming year. Those financial gurus, talking heads and media pundits all begin with a comprehensive review of what’ s happened over the course of the past year. Armed with that enlightening data, they then try to play Nostradamus and predict what will happen over the next 12 months.
I really hope you’ re not getting your investment advice( or even ideas) from these guys( and gals).
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See, the“ prediction” business is such a bad business to be in. Once you’ ve made your prediction, you’ re boxing yourself into a really tight corner. So you’ d better be either spot on, or be really good at coming up with the reasons( or excuses) why your prediction didn’ t come to fruition. And when you do that, you’ re just like every lost soul who originally tuned in to listen to you.
Have you ever noticed that no one ever holds these people accountable?
I have a great suggestion for the networks: You can save a lot of money by having the meteorologist make predictions about tomorrow’ s weather, and while they’ re at it, make predictions