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Strategies & Market Trends : Massacre on Wall Street
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To: Cynic 2005 who wrote (32)1/29/1999 11:15:00 AM
From: Terry Whitman  Read Replies (1) of 92
 
looks like we've got another candidate for the 'Irving Fischer Award'.

Economists are the world's worst forecasters- they always think that they can extrapolate the future in a straight line from recent history.

I think that this old trader's law works better:
"The longer a trend has been in place, the more likely it is to reverse."

TW
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