2011 Best & Worst Financial Predictions

[Midpack]

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

 

[walkinwood]

Nice read, but hardly surprising given the track records of forecasters.

Thanks for posting.

 

[REWahoo]

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...

 

[MichaelB]

John Kenneth Galbraith said

There are two types of forecasters; those that don't know, and those that don't know they don't know.

 

[Dawg52]

I don't forecast. Well......I do feel comfortable in forecasting a nap for this afternoon.

 

[tryan]

Reminds me of the call I took from a fidelity rep - "you need exposure to Asia and China".

Good thing I ignored him.

 

[bssc]

I am reminded of the saying, Economist successfully called 11 of the last 5 recessions.

 

[teejayevans]

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.
http://www.cbsnews.com/8334-505123_...cial-predictions/?tag=contentMain;contentBody

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