There are two types of forecasters: those who can’t forecast and those who don’t know they can’t forecast. Listening to forecasts can be very dangerous but investors love to do it. In fact many investors assume that this is a major task that they pay their advisors to do. In my experience it is a very counterproductive activity. I would much rather create a long-term strategic plan and stick to this long-term strategy as opposed to changing plans based on someone’s short-term forecast.
This article gives some great insight on this topic.
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