If to err is human, then the prognosticators who made the seven worst predictions about 2012 are truly superhuman. They were wrong about everything from the overturn of Obamacare (Right: What overturn?) to the supposedly huge gains awaiting investors in Facebook’s initial public offering. Lots of other people were equally clueless, but these seven were brave enough to say what they believed. Always a mistake.
“We believe that Facebook will redefine advertising and that the company is on course to be the most valuable media company in existence.”
—Ken Sena, consumer Internet analyst for Evercore Partners, May 2012.
Before Facebook’s IPO, Sena said the company was worth $140 billion to $160 billion. Value as of Dec. 28, 2012: $56 billion.