More Expert Money Predictions
DOMINIC Lawson on money in the Independent:
“At the most grandiose end of this market in second sight are the forecasters of the big City investment banks. These are very respectable people with very respectable salaries. Last weekend’s Sunday Times Business section published a list of “2007’s Best Forecasters”. Perhaps the most significant single forecast that had been demanded of them was to predict what the Bank of England’s Base Rate would be at year-end. Of the “45 Best Forecasters” listed by The Sunday Times, how many do you think predicted the actual figure of 5.5 per cent? Not a single one of them – which might make you wonder what sort of crazy stuff The Sunday Times could have published if it had asked the 45 Worst Forecasters.”
If you knew wher the money was to be made, would you tell?
Posted: 2nd, January 2008 | In: Broadsheets, Money Comment | TrackBack | Permalink
