The economy depends about as much on economists as the weather does on weather forecasters.
- Jean-Paul Kauffmann - Topics: Forecasting, Economist.
Find the trend whose premise is false, and bet against it.
- George Soros - Topics: Forecasting, Investing, Stock Market, Trader, Wall Street.
Economists are pessimists: they've predicted 8 of the last 3 depressions.
- Barry Asmus - Topics: Forecasting, Economist.
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.
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: Investing, Forecasting, Stock Market, Wall Street.
Ask five economists and you'll get five different explanations - six if one went to Harvard.
- Edgar R. Fiedler - Topics: Economist, Forecasting.
In economics the majority is always wrong.
- John Kenneth Galbraith - Topics: Economist, Forecasting, Investing.
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.
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, Denial.
Science progresses one funeral at a time.
- Max Planck - Topics: Monetary Policy, Investing, Forecasting, Economist.
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.
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