I just read an article where the author has compiled a list of stock market predictions from well-known stock market experts. Since 2010, there have been 62 “can’t miss” predictions; 43 of those predictions were wrong. In other words, 69 per cent of these almost-certain predictions were wrong; two were neither right nor wrong and only 17, or 27 per cent, of these “can’t miss predictions” actually turned out to be right.
Keep this in mind the next time you see a well-known stock market expert on one of the media outlets speaking with strong conviction about their latest predictions. Odds are they'll be wrong 69 per cent of the time.
This is just another reminder that when it comes to investing, the media is not your friend.
Understanding that the track records of well-known market experts aren’t really that accurate after all will help move you one step closer to experiencing your version of an Incredible Retirement – doing what you want, when you want, with the resources you already have.