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2011 Best & Worst Financial Predictions
Old 01-13-2012, 10:13 AM   #1
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2011 Best & Worst Financial Predictions

Thought this was amusing, with a batting average probably on par with most predictions (not that good). Most don't follow up to report on their results like this.

I have to admit I fell for the Meredith Whitney muni prediction (correct, but so wildly exaggerated in scope as to be essentially false) reminds me why humility is a virtue.
Last year's best and worst financial predictions - CBS News
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Old 01-13-2012, 11:08 AM   #2
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Nice read, but hardly surprising given the track records of forecasters.

Thanks for posting.
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Old 01-13-2012, 11:17 AM   #3
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Perhaps we should all bookmark this thread and reference it each time we get another post from someone quoting an expert who "knows" what's about to happen...
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Old 01-13-2012, 11:23 AM   #4
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John Kenneth Galbraith said
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There are two types of forecasters; those that don't know, and those that don't know they don't know.
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Old 01-13-2012, 11:52 AM   #5
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I don't forecast. Well......I do feel comfortable in forecasting a nap for this afternoon.
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Old 01-13-2012, 11:52 AM   #6
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Reminds me of the call I took from a fidelity rep - "you need exposure to Asia and China".

Good thing I ignored him.
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Old 01-13-2012, 12:09 PM   #7
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I am reminded of the saying, Economist successfully called 11 of the last 5 recessions.
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Old 01-13-2012, 12:16 PM   #8
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Quote:
Originally Posted by Midpack View Post
I have to admit I fell for the Meredith Whitney muni prediction (correct, but so wildly exaggerated in scope as to be essentially false) reminds me why humility is a virtue.
I did the opposite, whenever some expert recommends something, I bet against them. Bought VG HY muni fund after that, good move. But did miss out on the continued gold uptick...maybe made that move too early?
TJ
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