Why Do Forecasters Keep Forecasting? | Forex Factory

  • Why Do Forecasters Keep Forecasting?

    From bloomberg.com

    "He who lives by the crystal ball soon learns to eat ground glass." -- Edgar Fiedler Its that time of year again! All of your favorite prognosticators will soon be trotting out their favorite (albeit worthless) prognostications. You are advised to ignore them with extreme prejudice. This has been a peeve of mine for quite some time, going back to "The Folly of Forecasting" and, more recently, "Get ahead of forecaster folly." I was reminded of this courtesy of a commentary by Robert Seawright, chief investment officer of Madison Avenue Securities. It had the delightful tongue-in-cheek title, "Missed It By *This* ... (full story)

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realjumper
Dec 11, 2013 6:18pm — Edited
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bloomberg might well ask themselves a similar question....something like 'why do we embellish the facts with our spin, instead of just reporting the facts?'

The end result is the same to the gullible new traders......
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timos
Dec 11, 2013 4:57pm
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Because they can't trade?
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Spreadbetter
Dec 11, 2013 5:56pm
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I think that's the obvious retort but it doesn't really work that way and I'm not sure where and when this belief started that analysts are failed traders. Imagine a racing car firm such as McLaren; engineers, mechanics, team owner, marketing, public relations, driver, test driver...yep it's the pilot who can control an incredible piece of kit who gets all the glory but without all the supporting apparatus he'd be nowhere.


Quoting timos
Because they can't trade?
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