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12 of the worst economic predictions ever made by highly intelligent people
Economic forecasting is a difficult game — get it right, and you'll get not only plaudits, but potentially a lot of money too.But get it wrong, and you'll never be able to take it back. Your...
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Jim O'Neill Warns Against Forecasting Oil Prices, And Then Forecasts Oil...
Jim O'Neill is famous for coining the acronym BRICs while he was an economist at Goldman Sachs.However, he actually wrote his Ph.D. thesis on OPEC and oil prices.In Project Syndicate Wednesday, he...
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Someone built the 'world's biggest' hurricane simulator to help improve...
Miami (AFP) - The world's largest hurricane simulator is now complete and experts hope it will improve forecasters' ability to predict how strong a storm will get, which has been a key weak spot for...
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12 of the worst economic predictions ever made by highly intelligent people
Economic forecasting is a difficult game — get it right, and you'll get not only plaudits, but potentially a lot of money too.But get it wrong, and you'll never be able to take it back. Your...
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We're witnessing herding in the markets, and the consequences could be...
Wall Street's equity analysts are paid to forecast a lot of things. And the culmination of all of their research and analysis comes down to the bottom line: earnings forecasts.Because there are so many...
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Janet Yellen just made one of the most surprising admissions you'll ever hear...
"I am describing the outlook that I see as most likely, but based on many years of making economic projections, I can assure you that any specific projection I write down will turn out to be wrong,...
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The 13 fastest-growing economies in the world
China's crazy growth has been one of the biggest stories over the past several decades.But the Chinese economy certainly isn't the only one posting huge growth rates.We compiled a list of 13 countries...
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How the best forecasters think about the world... and what everyone else is...
Statistician Nate Silver correctly predicted the outcome of every state in the 2012 presidential election. It instantly shot him to fame in a field most people associate with the most boring class they...
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Interest rate forecasters are shockingly wrong almost all of the time (TLT, USD)
Most interest rate forecasters are wrong most of the time.Very wrong.The chart below is from Jeff Gundlach's presentation on Tuesday, comparing the US 10-year yield to median economist forecasts over...
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These 8 charts prove economic forecasting doesn't work
Welcome to 2016. Tradition dictates that you spend the first few weeks or so reading forecasts for the coming year.I can say with certainty that most of them will be wrong. A smaller number may hit the...
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An inch of snow is already causing headaches in Washington DC — here’s what...
As an icy appetizer for the big storm that's projected to hit Washington, DC this weekend, the city got a one-inch dusting the evening of Jan. 20.That mere inch of snow was enough to snarl traffic and...
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Forecasters are shocked by how long they've seen winter storm Jonas coming
When a storm is coming meteorologists usually balance the results of many different computer models to create their forecasts.But this wasn't necessary for the blizzard about to hit the East Coast,...
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Ex-Bank of England forecaster: Brexit predictions from economists aren't...
Leading British economist Martin Weale defended his profession from a recent wave of criticism, saying that economic forecasts are necessary but "simply the best you can do."The former Bank of England...
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Hurricane season officially starts today — and you're at risk even if you...
Hurricane season starts June 1 on the Atlantic Ocean.Forecasters are predicting a slightly above-average number of hurricanes this season.Regardless of how many storms we end up seeing, scientists say...
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The world's most accurate economic forecaster pinpoints the biggest risks...
Christophe Barraud, the Paris-based chief economist of Market Securities, has been ranked by Bloomberg as the most accurate forecaster of the US economy every year since 2012.In a recent interview with...
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The US government shutdown is preventing scientists from improving forecasts...
The US government shutdown, now in its 34th day, has left some NOAA staff in limbo.Day-to-day weather forecasting is not affected, but the shutdown could impede long-term improvements to the National...
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A hedge-fund chief overseeing $2 billion shares 5 reasons he sees bitcoin...
Mark Yusko, the CEO and chief investment officer at Morgan Creek Capital Management, shared several reasons he thinks bitcoin's price will hit $100,000 by the end of 2021.Yusko said it would be...
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The average S&P 500 forecast hasn't been this much lower than the actual...
The average year-end forecast for the S&P 500 is 2,933, according to Bloomberg data. On Monday, the index closed at 3,232.39, erasing year-to-date losses. The gap between strategists' year-end...
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How a small-business software company became one of the most accurate...
Homebase, a software company that helps small businesses with scheduling, hiring, and more, made its data public in March after seeing the impact of the COVID-19 pandemic recession. A few months later...
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How PepsiCo's trends forecaster is using artificial intelligence to scan...
Summary List PlacementConsumers are more likely to think of artificial ingredients than artificial intelligence when they see a bag of chips or a bottle of soda. But for PepsiCo's forecaster, the...
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