Using a forecasting company is like going to a fortune-teller. If you believe the company and the color does not sell, who do you blame? The forecasters? No, you blame yourself.
Sentiment: NEGATIVE
People don't realize that we cannot forecast the future. What we can do is have probabilities of what causes what, but that's as far as we go. And I've had a very successful career as a forecaster, starting in 1948 forward. The number of mistakes I have made are just awesome. There is no number large enough to account for that.
I think the association of economics with forecasting is unfortunate and is down to the fact that one great way to get an investment bank's name on business television is to hire a guy called a Chief Economist who will go and prognosticate.
Never forget this simple truism: Forecasting is marketing, plain and simple.
I never understand why 'economist makes forecast' is ever a headline. Whether the economist in question is from the International Monetary Fund, a City forecasting group or the Treasury - a forecast is still not news.
Forecasting is simply not a strength of the species; we are much better with tools and narrative storytelling.
If you have to forecast, forecast often.
We really can't forecast all that well, and yet we pretend that we can, but we really can't.
It is indeed true that the stock market can forecast the business cycle.
If you have reason to think that yesterday's forecast went wrong, there is no glory in sticking to it.
I'm not an economist and we all know economists were created to make weather forecasters look good.
No opposing quotes found.