So often, we hear prophecies about the future direction of travel for markets from so-called ‘experts’ and ‘analysts’.
Now, please don’t get me wrong, I will always talk about my views and opinions on what is happening or what might happen in markets, politics, tax legislation, etc. In fact, I love to have these conversations. However, I am always very clear that I “don’t have a crystal ball” and that markets have usually priced in all known information, and so generally the only thing that moves markets is new, currently unknown information, which subsequently comes to light.
The issue I have is that these so-called experts and analysts seem to act as if they do have a crystal ball. As if they can see the future. They seem to state their views and opinions as facts and because they are “experts and analysts” they must know what they are talking about – surely?
