CXO Advisory Group has been collecting data from market forecasters since 1998. The firm has tracked and graded thousands of market forecasts made by dozens of popular gurus over the years. The overall results are not good. CXO has concluded that the market experts accurately predicted market direction only 48 percent of the time.
December means one thing − predictions − lots of them, mostly bad. We’ll hear forecasts about interest rates, stock prices, commodities, gold, economic growth, and of course, a fresh batch of Doomsday predictions. You’ll hear the bad, the ugly and the worst in that order. There may be a few good predictions out there, but [...]
The public’s opinion of Wall Street and the financial services industry is at an all-time low. Reputations have been tarnished by repeated scandals, bankruptcies, bailouts and bad executive behavior. This perception will not change with more government regulation because the problem is not one of process, it’s one of leadership. Today, there’s a severe shortage [...]
Financial advisers lie. Not all the time, but often enough to matter. Most lies are small and amount to fudging the truth to build fame and fortune. There’s no harm in that, right? I don’t think clients would agree. Advisors want to believe they’re successful and will go a long way to prove it to [...]
We are fortunate to live in a free country that has prospered. We have a lot of stuff because of this. However, sometimes there is too much stuff, and that has unintended consequences. Here is a list of 10 things we would be better off not having as much of: 10. Traffic: Cities with the [...]