FYI: The financial media tends to focus much of its attention on market forecasts by so-called gurus. They do so because they know that is what gets the investment public’s attention. Investors must believe they have value or they wouldn’t tune in. Nor would they subscribe to investment newsletters and other financial publications such as Barron’s.
Unfortunately, there’s a large body of evidence demonstrating that market forecasts have no value in terms of adding alpha (though they provide plenty of fodder for my blog)—the accuracy of forecasts is no better than one would randomly expect.
Regards,
Ted
https://www.etf.com/sections/index-investor-corner/swedroe-measuring-value-forecasts?nopaging=1
