By Rick Kahler Iris.xyz
Rarely does a day go by without someone asking for my thoughts about the direction of the stock market.
How long do I think the bull market will continue? When will a bear market start? Is now a good time to sell?
Logically enough, people seem to think that financial experts know a lot more than anyone else about the markets and how they will perform in the future. Logical or not, this assumption is not true.
Bob Veres, editor of Inside Information, puts it this way: “As it turns out, the predictions made by financial experts are no better than those made by gypsies looking into crystal balls, soothsayers gazing at the entrails of a sacrificed animal or wizards with tall caps who gaze into space. In fact, the financial experts might even be LESS reliable than those other charlatans.”
The problem with accurately predicting what direction the US stock market is heading in the near future is that no expert really knows.
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