By Nicholas Vardy Financial analysts crunch a seemingly infinite amount of data in an attempt to divine the future of the market.
But as Nicholas Vardy explains today, their long-term predictions often miss the mark.
“Prediction is hard, especially about the future.”
– Yogi Berra
The Greeks turned to the Oracle of Delphi. The Romans interpreted animal entrails. Today, Wall Street analysts crunch endless data to divine the future.
In today’s tradition, Boston money management firm GMO just published its annual outlook for all major asset classes for the seven years ahead.
Two predictions stood out.
First, GMO expects emerging market stocks to rise an average of 5.2% per year …read more
