Bloomberg/John Authers/12-7-2022
“Christmas is coming, the goose is getting fat, and throughout the financial world analysts are publishing their predictions for 2023. A lot of the research produced at this time of year is genuinely interesting, and teams often benefit from the discipline of being forced to put their assumptions on paper and arrive at a prediction. That said, there’s still not much point in the exercise — because it is driven by the calendar.”
USAGOLD note: Some will applaud this dose of common sense from John Authers – even if it throws cold water on the annual year-end prediction festivities. Markets are notoriously difficult to predict, and then there’s the timing/buy/sell issue. “Uncertainty,” says Authers, “is greater than at any time since the worst of the Great Financial Crisis.” Another reason to diversify, sit back and watch the show. (Please see: “The cockroach portfolio: Still dumb, still robust, still superior“/themarketNZZ/Dylan Grice/1-28-2022)
