Forecasts Quotes
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Some of what these pamphlets [of astrological forecasts] say will turn out to be true, but most of it time and experience will expose as empty and worthless. The latter part will be forgotten literally: written on the winds while the former will be carefully entered in people's memories, as is usual with the crowd.
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Even good excuses, really good ones, don't help very much. Explanations, on the other hand, are both scarce and useful. And accurate forecasts and insightful intuition are priceless.
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I once read about a meeting of economists who agreed that if their forecasts were 33 1/3 % correct, that was considered a high mark in their profession. Well, of course, I know you cannot invest in securities successfully with odds like that against you if you place dependence solely upon judgement as to the right securities to own and the right time or price to buy them. Then, too, I read somewhere about the man who described an economist as resembling ‘a professor of anatomy who was still a virgin.’
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When all the experts and forecasts agree, something else is going to happen.
