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And any investment plan that is dependent on accurately forecasting where markets will be next year is doomed to failure.

Barry Ritholtz

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

Long Political Quality
And any investment plan that is dependent on accurately forecasting where markets will be next year is doomed to failure.
BARRY RITHOLTZ

Doomed Forecast Forecasting Investment Plan
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
Never forget this simple truism: Forecasting is marketing, plain and simple.
BARRY RITHOLTZ

Forget Marketing never Simple
Salesmen always need something to sell.
BARRY RITHOLTZ

Need Salesman Sell Something
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
For those of you who may be unaware, [Michael] Boskin is the economist/weasel/fraud who helped to officially distort the CPI, making it more or less worthless as a measure of inflation.
BARRY RITHOLTZ

Broken Distort Economist May Men
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
History is replete with examples of tech firms that were marginalized by new companies and technologies.
BARRY RITHOLTZ

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

Decent Prepare Retirement Risk
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
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

And any investment plan that is dependent on accurately forecasting where markets will be next year is doomed to failure.

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And any investment plan that is dependent on accurately forecasting where markets will be next year is doomed to failure.

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