Forecasting Quotes
Most Famous Forecasting Quotes of All Time!
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Now it will take a long time to scale biofuels, but I'm the only one in the world forecasting oil dropping in price to $35 a barrel by 2030. I'll put it on the record: Oil will not be able to compete with cellulosic biofuels. If you do it from food, the food will get so expensive you can't make fuel out of it.
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.
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.
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.
Speculative markets have always been vulnerable to illusion. But seeing the folly in markets provides no clear advantage in forecasting outcomes, because changes in the force of the illusion are difficult to predict.
Commercial institutions, proud of their achievements, do not see that healthy living systems - clean air and water, healthy soil, stable climates - are integral to a functioning economy. As our living systems deteriorate, traditional forecasting and business economics become the equivalent of house rules on a sinking cruise ship.
The successful entrepreneurs on the free market will be the ones most adept at anticipating future business conditions. Yet, the forecasting can never be perfect, and entrepreneurs will continue to differ in the success of their judgments. If this were not so, no profits or losses would ever be made in business.
True enough, the Fed needs radical reforms. In particular, it needs to replace its failed forecasting models and be rid of the academics who overwhelm the Fed system.
The funds from the sale were put into research and general teaching budgets at the university. Wharton Econometric Forecasting Associates, Inc., is now a growing enterprise with many model and other econometric facilities.
Ways have to be found to maintain university research untramelled by requirements of forecasting application or usefulness.
The only function of economic forecasting is to make astrology look respectable.
Future forecasting is all about testing strategies - it's like a wind tunnel.
Economic forecasting has actually got pretty good over the years, though admittedly, we don't always get it right.
The general public still expects a lot more forecasting accuracy than any of us can deliver.
In a sense, there are as many forecasting methods as there are forecasters. But I would argue that most projections are derived from two major methods: macro-econometric models and eclectic judgment.
A teacher told my mother that I would never become successful, which illustrates the difficulty of long-run forecasting on inadequate data.
It is important for investors to understand what they do and don't know. Learn to recognize that you cannot possibly know what is going to happen in the future, and any investment plan that is dependent on accurately forecasting where markets will be next year is doomed to failure.
Never forget this simple truism: Forecasting is marketing, plain and simple.
I do believe it is important to be future-ready with a portfolio to be able to deal with however the market evolves. This is better than just forecasting accurately but in having the weapons ready to deal with the uncertainties.
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