Chapter
The Inaccuracy of Economic and Investing Forecasting
43:57 - 48:44 (04:47)
The ability to accurately predict economic and investing forecasts is historically bad, even among the smartest people with the most information, as evidenced by the current uncertainty surrounding the impact of the coronavirus on the global economy.
Clips
Economic forecasting and investing forecasting have a history of poor accuracy.
43:57 - 45:54 (01:56)
Investing
Summary
Economic forecasting and investing forecasting have a history of poor accuracy. Investing in the stock market requires accepting the cost of volatility, which is a necessary aspect of successful investing.
ChapterThe Inaccuracy of Economic and Investing Forecasting
Episode#142 - Morgan Housel - How To Create & Manage Your Personal Wealth
PodcastModern Wisdom
The inability to predict and analyze surprising events, such as the current coronavirus outbreak, remains a challenge for forecasters due to the inability to even consider events we cannot think about.
45:54 - 48:44 (02:50)
Forecasting
Summary
The inability to predict and analyze surprising events, such as the current coronavirus outbreak, remains a challenge for forecasters due to the inability to even consider events we cannot think about.