I did not want to call this also Warren Buffets’ lessons, but it is one! WB says Short term forecasts are useless. He says “the forecast tells you more about the forecaster than the subject matter of the forecast”
Cahrlie Munger and WB concur on one thing “market forecasts are like poison” it should be kept away from investors – they are like children and need to be protected!
WB ignores market forecasts – likening them to fortune telling / sooth sayers! In fact a big Indian investor says “technical analysts make the astrologer look good”. Another saying is “the more the money that you spend on computers, software programs, etc. 3 businesses DO NOT GET BETTER, they are weather forecasting, share price forecasting, and astrology!
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