An eye opener - what I learned from a well known professor

[FD1000]

In the last several months, I hiked several times with a very distinguished accounting professor. This guy is well known, have many publications with research about several aspects of investing, finance and more. He lectured around the world and his work was published in the most influential media you know. He received several awards.

He is extremely blunt, which I love.

Furthermore, he knows most of the university "experts". I also know several of them because I have seen/read them in CNBC and other media channels over the last 25 years. I can't tell you more details since I don't want to reveal his name.

The following is his conclusion: All/most investment professionals + professors(Economics, Finance, Accounting) don't have prediction ability, nada, zilch unless they managed money themselves and can provide superior results over long time. I'm talking about investing, not algorithms + high frequency trading.
BTW, he admits he doesn't know the future and doesn't make predictions.

That was music to my ears and what I have posted for over 10 years. So, next time you see another "expert" on TV just smile and do nothing.

[johntaylor]

Didn't Isaac Newton lose the equivalent of several million in the South Sea bubble?

[galeno]

"The delivery of good medical care is to do as much nothing as possible.” “Laws of the House of God,” ~Samuel Shem.

I feel the same about good investing and try to touch our port as little as possible.

The simpler the port the less you have to touch it.

[bf22]

Aug 29, 2021 15:57:18 GMT johntaylor said:

Didn't Isaac Newton lose the equivalent of several million in the South Sea bubble?

Consider the gravity of this... 

[roi2020]

One doesn't need to consult a distinguished accounting professor to determine the so-called experts can't predict the future.



“It's tough to make predictions, especially about the future.”

― Yogi Berra