Everywhere we turn, we are faced with predictions. Many encounter these predictions from:
- TV talking heads
- Stock analysts
- and …yes, the barber and hairdresser
All of the sources above think they have insight into the economic future and have no fear of expressing it. Some are outlandish and others seem logical. Some are general and others specific. You can almost always find some prediction to align with one you hold and others that refute it. It is maddening…but pervasively a fact of life.
The investment business, however, thrives on predictions. The purveyors of these prognostications call them “projections.” They’re both the same, though.
It is interesting to occasionally look in the rear view mirror to evaluate high profile predictions from the past. So doing can help us take with a grain of proverbial salt the efficacy of today’s definitive statements about the future of the economy, stocks, bonds and interest rates, etc. To help us take this “salty look,” I believe you will find this ARTICLE on famous vintage predictions interesting. Maybe it will help provide perspective on today’s widely divergent predictions and will provide ammunition for conversations with prospects and clients.
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