- Ale
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- Nov 07, 2020
Forecasting Quotes
Quotes on forecasting, prediction, and the limits of getting it right.
This page collects quotes on forecasting, from economists debating oil price predictions to entrepreneurs trying to anticipate future business conditions. Several speakers question whether forecasts, even from respected institutions, deserve as much attention as they get.
- Last Updated on May 30, 2021
- Great
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- Nov 07, 2020
I think the association of economics with forecasting is unfortunate and is down to the fact that one great way to get an investment bank's name on business television is to hire a guy called a Chief Economist who will go and prognosticate.
- Never
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- Nov 07, 2020
I never understand why 'economist makes forecast' is ever a headline. Whether the economist in question is from the International Monetary Fund, a City forecasting group or the Treasury - a forecast is still not news.
- Blame
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- Nov 07, 2020
Using a forecasting company is like going to a fortune-teller. If you believe the company and the color does not sell, who do you blame? The forecasters? No, you blame yourself.
- Difficult
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- Nov 07, 2020
Speculative markets have always been vulnerable to illusion. But seeing the folly in markets provides no clear advantage in forecasting outcomes, because changes in the force of the illusion are difficult to predict.
- Proud
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- Nov 07, 2020
Commercial institutions, proud of their achievements, do not see that healthy living systems - clean air and water, healthy soil, stable climates - are integral to a functioning economy. As our living systems deteriorate, traditional forecasting and business economics become the equivalent of house rules on a sinking cruise ship.
- Business
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- Nov 07, 2020
The successful entrepreneurs on the free market will be the ones most adept at anticipating future business conditions. Yet, the forecasting can never be perfect, and entrepreneurs will continue to differ in the success of their judgments. If this were not so, no profits or losses would ever be made in business.
- General
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- Nov 07, 2020
The funds from the sale were put into research and general teaching budgets at the university. Wharton Econometric Forecasting Associates, Inc., is now a growing enterprise with many model and other econometric facilities.
- Maintain
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- Nov 07, 2020
Ways have to be found to maintain university research untramelled by requirements of forecasting application or usefulness.
- Look
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- Nov 07, 2020
The only function of economic forecasting is to make astrology look respectable.
- Economic
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- Nov 07, 2020
Economic forecasting has actually got pretty good over the years, though admittedly, we don't always get it right.
- General Public
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- Nov 07, 2020
The general public still expects a lot more forecasting accuracy than any of us can deliver.
- Most
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- Nov 07, 2020
In a sense, there are as many forecasting methods as there are forecasters. But I would argue that most projections are derived from two major methods: macro-econometric models and eclectic judgment.
- Mother
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- Nov 07, 2020
A teacher told my mother that I would never become successful, which illustrates the difficulty of long-run forecasting on inadequate data.
- Failure
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- Nov 07, 2020