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Source: The Wall Street Journal, 7/28/2014

Source: The Wall Street Journal, 7/28/2014

Few investors realize that no one has any ability to predict the future. Even fewer understand that predictions don’t matter.

For example, take economists’ forecasts. According to Ned Davis Research Group, economic forecasters have not correctly predicted any of the 7 recessions experienced since 1970. In fact, the forecasters as a group have never even called for a recession.