It is said that Harry Truman requested a one handed economist : “Give me a one handed economist! All my economists say, ‘on the one hand.. on the other.” I say give me a one handed Financial Analyst. “On the one hand, there is a good opportunity for making a profit in the next month… on the other, it is very dangerous.”
I think Financial Analysts write in the same manner you would expect to read in the newspaper about your zodiac sign. They cover all angles, so you’d find in retrospect how they were right. The market went down? They said “There is a lot of risk!”. The market went up and you didn’t participate? They said “The market could get up!”. No doubt, predicting the future is a difficult profession.
Why does nobody come out and say to the public that Financial Analysts are a bit like fortune tellers? Probably because instead of tarot cards, they have fundamental analysis or some other analysis that they use to predict how the stock market would react that look scientific. How about the fact that each year, when you go back to their past predictions, it is sometimes even less than a 50% success rate?
I guess all this led them to not imply anything at all about the future movement of the market. Just say it may go up and it may go down. They have their own jargon of words too that they throw around that make no sense at all only to make you think they are contributing something that you can use.
So remember, next time ask for a one handed Financial Analysts just like Truman!
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