“. . . the forecasts were often off by staggering amounts, especially when an accurate forecast would have mattered most. In 2008, for example, when stocks fell 38.5 percent, the median forecast was typically cheery, calling for an 11.1 percent stock market rise. That Wall Street consensus forecast was wrong by 49.6 percentage points, and it had disastrous consequences for anyone who relied on it.”
What to do?
“Investing over the long run through low-cost index funds in a broadly diversified portfolio is a reasonable approach for most people.”
The article is concise, clear, cogent, and highly recommended for anyone wanting to strengthen their investing game in the new year.