What ‘reliable’ info on future stock movement?
IT SEEMS investors’ thirst for reliable information on future stock movements provides a ready market for forecasters. We are told that through his prescience Jerome Levy sold his stocks before the 1929 crash and his grandson, who apparently has inherited the skill of seeing into the future, foresaw the October 2007 slump two whole months before it happened.
Subscribers to his Jerome Levy Forecasting Centre, however, are still waiting for the recession he has been promising since 2010 and the hyperinflation he was expecting in the wake of quantitative easing. Now it seems we have to wait till 2015 according to his latest forecast, and even then he is only promising a 65 percent chance. Cynical forecasters, such as he and the famous Dr Doom Nouriel Roubini, know the public forgets failures quickly and that if an event is forecast for long enough it will eventually happen, and credit can then be claimed. SYDNEY KAYE CAPE TOWN