Reviewing last year’s forecasts

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This Bloomberg article takes a swing at some of last year’s forecasts in this entertaining read: "Here is a round-up of some of 2016’s forecasts, and a look at why they didn’t quite work out as expected. 'This Dow rally will end March 23': This forecast was made on Feb. 16, so at least it didn’t have much shelf life. Studies have shown that people prefer false precision to accurate ambiguity. The forecaster who tells you that the future is inherently unknowable, and all forecasts 12 months out are just guesses isn’t as well received as someone saying with certainty that the Dow Jones Industrial Average will top 21,000 on the day Donald Trump is inaugurated as president. Why don’t investors recognize this? The answer is quite simple: It is just human nature." (VIEW LINK)


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