We begin our discussion by examining the awful advice that hurts investors. By the time you have finished this section, you will know how to identify and avoid bad advice wherever you encounter it.
Experts have their role, but when it comes to foretelling the future, they are as bad as everybody else. This is true for movies, music, and technology, as well as stocks and the economy.
It’s easy to delude ourselves that the pros know what comes next. As we shall soon see, when it comes to the future, nobody knows anything…