If I had a nickel for every time, over the past 34 years, a client asked me what I think about the prognostications of, say, Ron Paul, Peter Schiff, David Stockman, Harry Dent, Jimmy Rogers — or any of the folks who find themselves in front of the national media prognosticating on the decisions, emotions, desires and whims of 7+ billion Earthlings — man I’d have me some serious nickels!
This from Bloomberg’s Cameron Crise is wisdom to live by:
“It’s a well-known but seldom-discussed fact that most market forecasters aren’t paid to be right, they’re paid to be interesting.”