Are Wall Street, and even Federal Reserve, forecasts often about as accurate as April Fool’s Day jokes?
Unfortunately, yes, sometimes the might make you smile.
This week I was fortunate enough to attend a private reception and then a lunch with Janet Yellen at the Economic Club of New York. The experience and debate of ideas among the group was fun and stimulating (yes, as the picture shows I am a big Yellen fan).
How accurate, though, are the forecasts from the Federal Reserve or from Wall Street investment analysts?
As I wrote this week in two pieces for TheStreet.com, the evidence shows that they could lead to jokes.
Consider a read of the articles listed below and remember:
Just as it is wise to avoid getting caught up, and end up turning red, over an April Fool’s day line, history teaches us that following emotionally charged headlines and the prognostications of the Wall Street herd might create embarrassing returns.
Should You Treat Wall Street Forecasts Like April Fool’s Day Jokes?
Yellen’s Comments Moved Markets – But Are Fed Forecasts Accurate?
Preston McSwain is first and foremost a proud dad. To see more of his posts, and follow him on social media, please visit the following: