Financial strategist market forecasts are worthless, but not useless
In Sunday’s New York Times, Jeff Sommer complains that financial strategist forecasts for market returns are terrible. They are. But they are a little better than guessing. And they have value nonetheless. Sommer’s critique Sommer thinks the forecasts of economists and financial strategists are way off. Here’s his critique: [T]he stock and bond markets are swinging haphazardly,…