Sunday 9 May 2010

A challenge to all so-called analyst otherwise known as "Financial actors"

If all these "financial actors" are so good at predicting the trend of the stock market or explaining the ups and downs of the stock, after the facts of course. I propose the following challenge:

Confine yourself in a room with no means of contact to the outside world whatsoever, and I'll feed you all the financial news like the indexes from the previous day, bank rate setting meeting result, oil production, acquisition news, etc and you tell me at the end of the day what the new indexes are. If you are really good at "predicting" things then such information should be sufficient. Let's face it, we all know, "financial actors" merely pick the seemingly appropriate facts to explain something that already happened.

Of course, I'm not naive and I already know no-one can take on such challenge.

Which reminds me of another quote, Economists are people who will tell you tomorrow why the things that they predicted yesterday did not happen today.

Well analysts are people who will tell you tomorrow exactly how the things happened yesterday have affected the outcome today.

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