Barry Ritholtz, Columnist

The Forecasting Business Shouldn’t Be This Bad

Those who try to divine the future would do a better job with a few simple changes.

April 1, 2019 at 12:00 PM UTC

Barry Ritholtz is a former Bloomberg Opinion columnist. He is chairman and chief investment officer of Ritholtz Wealth Management, and was previously chief market strategist at Maxim Group. He is the author of “Bailout Nation.”

There’s got to be a better way.
Photographer: Paul J. Richards/AFP/Getty Images

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By now, some of you may have noticed that I am none too fond of the average Wall Street forecaster.

This isn't because of some random prejudice, but rather, a view that has evolved based on long experience. It is backed up by solid statistical evidence that forecasters are not very good at forecasting.