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If I am going to trash others for their dumb predictions, I must at least hold myself to the same sort of accountability.

Barry Ritholtz

Never forget this simple truism: Forecasting is marketing, plain and simple.
BARRY RITHOLTZ

Forget Marketing never Simple
Rather than engage in the sort of selective retention that so many investors tend to do and pretend mistakes never happened, I prefer to own them. This allows me to learn from them and, with any luck, avoid making the same errors again.
BARRY RITHOLTZ

Errors Happened Investor Luck Mistake Prefer
Keynes vs Hayek? Friedman vs Krugman? Those are the wrong intellectual debates. Its you vs. Tony Hayward, BP CEO, You vs. Lloyd Blankfein, Goldman Sachs CEO. And you are losing…
BARRY RITHOLTZ

Country Debate Intellectual Losing People Person
The Boskin Commission… was an act of cowardice. Rather than man up and say fix this, its broken, we can’t afford it.
BARRY RITHOLTZ

Afford Boskin Broken Cowardice Man
Unlike cheap stocks, inexpensive asset classes have a lower chance of big drawdowns (broad asset classes don’t go to zero) and a higher probability of average or better returns.
BARRY RITHOLTZ

Average Class Drawdown Zero
The good news is that economists are intelligent, engaging and often charming folks. The bad news is their work is often of little use to investors.
BARRY RITHOLTZ

Charming Intelligent News Use Work
You can blow on the dice all you want, but whether they come up seven is still a function of random luck.
BARRY RITHOLTZ

Blow Function Luck Random
I find it funny that people who didn’t think there was any inflation in the pipeline are now talking about stagflation.
BARRY RITHOLTZ

People Stagflation Talking Thinking
If I am going to trash others for their dumb predictions, I must at least hold myself to the same sort of accountability.
BARRY RITHOLTZ

Accountability Dumb Hold Myself Prediction Trash
It is important for investors to understand what they do and don’t know. Learn to recognize that you cannot possibly know what is going to happen in the future.
BARRY RITHOLTZ

Important Next Possibly Year
History is replete with examples of tech firms that were marginalized by new companies and technologies.
BARRY RITHOLTZ

Example Firm Technology
Returnless risk is not how you prepare for a decent retirement.
BARRY RITHOLTZ

Decent Prepare Retirement Risk
Excessive regulation in the banking reform bill will destroy a substantial part of our bond-distributing machinery.
BARRY RITHOLTZ

Long Political Quality
One thing I detest most about the financial press is the lack of accountability. All sorts of nonsense is said without penalty.
BARRY RITHOLTZ

Accountability Financial Nonsense
The market is going to love it. The market always seems to applaud major mergers, even though the vast majority of them don’t work out and don’t increase shareholder value.
BARRY RITHOLTZ

Majority Mergers Out Work
Can anyone expect that a step of this kind will improve the quality of our long-term investments?’
BARRY RITHOLTZ

Anyone Improve Investment Kind Quality Step

If I am going to trash others for their dumb predictions, I must at least hold myself to the same sort of accountability.

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If I am going to trash others for their dumb predictions, I must at least hold myself to the same sort of accountability.

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