The economy depends about as much on economists as the weather does on weather forecasters.
- Jean-Paul Kauffmann - Topics: Forecasting, Economist.
When the facts change, I change my mind. What do you do, sir?
- John Maynard Keynes - Topics: Forecasting.
Science progresses one funeral at a time.
- Max Planck - Topics: Monetary Policy, Investing, Forecasting, Economist.
No very deep knowledge of economics is usually needed for grasping the immediate effects of a measure; but the task of economics is to foretell the remoter effects, and so to allow us to avoid such acts as attempt to remedy a present ill by sowing the seeds of a much greater ill for the future.
- Ludwig von Mises - Topics: Monetary Policy, Forecasting, Economist.
Ask five economists and you'll get five different explanations - six if one went to Harvard.
- Edgar R. Fiedler - Topics: Economist, Forecasting.
Markets are constantly in a state of uncertainty and flux, and money is made by discounting the obvious and betting on the unexpected.
- George Soros - Topics: Trader, Stock Market, Investing, Forecasting, Wall Street.
When everyone thinks alike, no one is thinking clearly.
- Marc Faber - Topics: Forecasting, Investing, Stock Market.
In economics the majority is always wrong.
- John Kenneth Galbraith - Topics: Economist, Forecasting, Investing.
There is only one difference between a bad economist and a good one: the bad economist confines himself to the visible effect; the good economist takes into account both the effect that can be seen and those effects that must be foreseen. Yet this difference is tremendous; for it almost always happens that when the immediate consequence is favorable, the later consequences are disastrous, and vice versa. Whence it follows that the bad economist pursues a small present good that will be followed by a great evil to come, while the good economist pursues a great good to come, at the risk of a small present evil.
- Frédéric Bastiat - Topics: Monetary Policy, Forecasting, Economist.
When all the experts and forecasts agree, something else is going to happen.
- Bob Farrell - Topics: Wall Street, Trader, Stock Market, Investing, Forecasting.
People can foresee the future only when it coincides with their own wishes, and the most grossly obvious facts can be ignored when they are unwelcome.
- George Orwell - Topics: Forecasting.
In this business, if you're good, you're right six times out of ten. You're never going to be right nine times out of ten.
- Peter Lynch - Topics: Stock Market, Investing, Forecasting, Trader.
Economists are pessimists: they've predicted 8 of the last 3 depressions.
- Barry Asmus - Topics: Forecasting, Economist.
Find the trend whose premise is false, and bet against it.
- George Soros - Topics: Forecasting, Investing, Stock Market, Trader, Wall Street.
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