What type of forecaster are you?
The key is to consider how you would react if your views proved incorrect across different time horizons
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ECONOMIST John Kenneth Galbraith once identified two types of forecasters: those who don’t know and those who don’t know that they don’t know.
Adding to this sentiment, legendary investor Warren Buffett observed that forecasts tell you a great deal about the forecaster, but nothing about the future.
These perspectives are crucial when listening to market experts and acting on your own predictions. The key is considering how you would react if your views proved incorrect across different time horizons.
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