Oil's Rebound and Other Wrong-Way Forecasts

People keep making predictions, though they're almost always incorrect.

Bet no one called this.

Source: Universal History Archive/Getty Images

This year’s stock-market correction reminds us once again that forecasting is folly. We have discussed this many times before (see this, this and this) so suffice it to say that the evidence is in: humans have no ability to say what will occur in the future. I was reminded of this courtesy of an article published one year ago today on the imminent recovery in oil prices.

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