Revising The Mantra
It’s long been the mantra of the Psy-Fi Blog that no one can successfully predict anything about anything to do with finance; or anything much else, to be honest. To this, though, we probably ought to add a corollary – no one can successfully predict anything about anything to do with finance except when they do, but when they do everyone will ignore them. Tough business, this crystal ball gazing lark.
Although the history of the recent crash is too close to analyse, it is possible to look at what happened in the turn of the century debacle. It turns out that there are two groups of people who successfully predicted the market collapse – a bunch of value based investors and an obscure group of economists hailing originally from central Europe. In difficult times we must take our heroes where we can find them.
It’s long been the mantra of the Psy-Fi Blog that no one can successfully predict anything about anything to do with finance; or anything much else, to be honest. To this, though, we probably ought to add a corollary – no one can successfully predict anything about anything to do with finance except when they do, but when they do everyone will ignore them. Tough business, this crystal ball gazing lark.
Although the history of the recent crash is too close to analyse, it is possible to look at what happened in the turn of the century debacle. It turns out that there are two groups of people who successfully predicted the market collapse – a bunch of value based investors and an obscure group of economists hailing originally from central Europe. In difficult times we must take our heroes where we can find them.
