Forecasting Quotes - Page 1

I believe in analysis and not forecasting.
Nicolas Darvas / Author
Analysis
Believe
Forecasting
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The Federal Reserve is not currently forecasting a recession.
Ben Bernanke / Economist
Federal Reserve
Forecasting
Recessions
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I have seen the future and it's like the present, only longer.
Dan Quisenberry / Baseball Player
Future
Time
Forecasting
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Forecasting is very difficult, especially when it involves the future.
Yogi Berra / Baseball Manager
Difficult
Forecasting
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Never forget this simple truism: Forecasting is marketing, plain and simple.
Barry Ritholtz / Author
Forecasting
Marketing
Never Forget
Simple
Truism
Plain
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Future forecasting is all about testing strategies - it's like a wind tunnel.
Jamais Cascio /
Forecasting
Strategy
Testing
Tunnels
Wind
Strategies
Tunnel
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The only function of economic forecasting is to make astrology look respectable.
John Kenneth Galbraith / Economist
Astrology
Economic
Forecasting
Function
Looks
Respectable
Make
Only
Look
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The general public still expects a lot more forecasting accuracy than any of us can deliver.
Edgar Fiedler / Economist
Accuracy
Forecasting
General Public
More Us Than
Deliver
Expects
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We're not very good at forecasting, and we don't know how to measure the impact of economic policy.
Edgar Fiedler / Economist
Economic
Forecasting
Impact
Policy
Measure
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Computer modelling for weather forecasting, and indeed for climate forecasting, has reached its limits.
Piers Corbyn /
Climate
Computer
Forecasting
Limits
Modelling
Weather
Indeed
Reached
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Forecasting is simply not a strength of the species; we are much better with tools and narrative storytelling.
Barry Ritholtz / Author
Forecasting
Narrative
Species
Tools
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Economic forecasting has actually got pretty good over the years, though admittedly, we don't always get it right.
Eric Maskin /
Forecasting
Admittedly
Good Always Right
Pretty Good
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And this is one way to do technology forecasting; get a sense of where technology is, and then anticipate the next upturn.
Chris Anderson /
Anticipate
Forecasting
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Ways have to be found to maintain university research untramelled by requirements of forecasting application or usefulness.
John Vane /
Application
Forecasting
Requirements
University
Usefulness
Maintain
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We spent a lot of time trend forecasting and collaborating on ways to design a fresh line of fashion-forward, affordable luxury.
Kourtney Kardashian / Television Personality
Affordable
Collaborating
Forecasting
Luxury
Trend
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A teacher told my mother that I would never become successful, which illustrates the difficulty of long-run forecasting on inadequate data.
Clive Granger /
Data
Difficulty
Forecasting
Inadequate
Illustrate
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True enough, the Fed needs radical reforms. In particular, it needs to replace its failed forecasting models and be rid of the academics who overwhelm the Fed system.
Lawrence Kudlow / Economist
Forecasting
Models
Academics
Failed
Fed
True Enough
Reforms
Overwhelm
Replace
Rid
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Forecasting our futures is built into our psyches because we will soon have to manage that future. We have no choice. No matter how often we fail, we can never stop trying.
Alan Greenspan / Economist
Forecasting
Manage
Choice
Fail
Future Will Never
Futures
Never Stop
No Choice
Soon
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Forecasting is a maddening occupation. It is always fascinating and exciting and rewarding. yet it is also regularly exasperating and infuriating, occasionally even deranging.
Edgar Fiedler / Economist
Fascinating
Forecasting
Infuriating
Maddening
Occasionally
Regularly
Rewarding
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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.
Tadashi Shoji / Fashion Designer
Blame
Forecasting
Sell
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There is no formula that will guarantee success in forecasting, no magic words that will part the clouds. The real problem, as the old saw puts it, is that the future lies ahead.
Edgar Fiedler / Economist
Clouds
Forecasting
Formula
Guarantee
Puts
Real Problem
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Punditry is like weather forecasting: the winds can shift without warning. I remember when nobody would bet a McDonald's Quarter Pounder that Bill Clinton would win the White House.
James Carville / Commentator
Clinton
Forecasting
Remember When
Warning
Weather
White House
Bill Clinton
Mcdonald
Quarter
Shift
Winds
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I will be the first to say that it is always difficult to get monetary policy just right. But the Fed's analytical prowess is top-notch, and our forecasting record is second to none.
Janet Yellen / Economist
Forecasting
Monetary
Monetary Policy
Prowess
Top Notch
Analytical
Be The First
Fed
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We talk about the Internet. That comes from science. Weather forecasting. That comes from science. The main idea in all of biology is evolution. To not teach it to our young people is wrong.
Bill Nye / Educator
Biology
Evolution
Forecasting
Internet
Teach
Weather
Main
Young People
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A forecasting game is a kind of simulation, a kind of scenario, a kind of teleconference, a kind of artifact from the future - and more - that enlists the participants as 'first-person forecasters.'
Howard Rheingold / Writer
First Person
Firsts
Forecasting
Games
Kind
Participants
Simulation
Scenario
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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.
Edgar Fiedler / Economist
Eclectic
Forecasting
Judgment
Models
Argue
Derived
Methods
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Forecasting Armageddon has become trendy of late, with a great deal of attention being given to an interpretation of the Mayan Calendar suggesting that Mother Earth is destined for doom in December of 2012.
Seth Shostak / Astronomer
Armageddon
December
Destined
Doom
Forecasting
Interpretation
Mother Earth
Suggesting
Trendy
Calendar
Great Deal
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There are domains in which expertise is not possible. Stock picking is a good example. And in long-term political strategic forecasting, it's been shown that experts are just not better than a dice-throwing monkey.
Daniel Kahneman / Psychologist
Example
Expertise
Forecasting
Long
Long Term
Political
Strategic
Domains
Good Example
Monkey
Picking
Shown
Stock
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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.
Lawrence R. Klein /
Associates
Budgets
Enterprise
Forecasting
Research
University
Facilities
Model
Funds
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I do believe it is important to be future-ready with a portfolio to be able to deal with however the market evolves. This is better than just forecasting accurately but in having the weapons ready to deal with the uncertainties.
Anand Mahindra /
Forecasting
Weapons
Portfolio
Uncertainties
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I came up with a 'forecasting cell,' which is basically a mixed intention cell or chord that is a complete hybrid of a consonance and a dissonance, and what that does when you are improvising is lead you to where you are supposed to go.
Christian Scott / Jazz Trumpeter
Forecasting
Hybrid
Improvising
Intention
Basically
Came
Cell
Chord
Complete
Mixed
Supposed
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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.
Tim Harford / Economist
Association
Economist
Forecasting
Investment
Unfortunate
Bank
Chief
Great Way
Hire
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Pundits are no better at forecasting election outcomes than they would be at predicting the final path of a hurricane. Smart pundits should consider either abandoning this activity or consulting with the geeks before rendering their guesses.
Richard Thaler / Economist
Activity
Consulting
Election
Forecasting
Outcomes
Predicting
Pundits
Rendering
Abandoning
Final
Geeks
Guesses
Hurricane
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Whenever you try to pick market tops and bottoms, you are making a prediction. Guessing what stock is going to outperform the market is forecasting, as is selling a stock for no apparent reason. Indeed, nearly all capital decisions made by most people are unconscious predictions.
Barry Ritholtz / Author
Forecasting
Guessing
Selling
Unconscious
Apparent
Nearly
Capital
Indeed
Prediction
Stock
Tops
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It is important for investors to understand what they do and don't know. Learn to recognize that you cannot possibly know what is going to happen in the future, and any investment plan that is dependent on accurately forecasting where markets will be next year is doomed to failure.
Barry Ritholtz / Author
Dependent
Doomed
Forecasting
Important
Investment
Next Year
Years
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The Fifties and Sixties were years of unreal optimism about weather forecasting. Newspapers and magazines were filled with hope for weather science, not just for prediction but for modification and control. Two technologies were maturing together: the digital computer and the space satellite.
James Gleick / Author
Science
Space
Computer
Digital
Filled
Forecasting
Magazines
Modification
Newspapers
Together
Unreal
Weather
Fifties
Maturing
Prediction
Satellite
Sixties
Technologies
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Now it will take a long time to scale biofuels, but I'm the only one in the world forecasting oil dropping in price to $35 a barrel by 2030. I'll put it on the record: Oil will not be able to compete with cellulosic biofuels. If you do it from food, the food will get so expensive you can't make fuel out of it.
Vinod Khosla / Businessman
Dropping
Expensive
Forecasting
Fuel
Long
Oil
Records
Time Food World
Scale
Barrel
Compete
Price
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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.
Murray Rothbard / Economist
Adept
Conditions
Forecasting
Free Market
Perfect
Successful
Success Future Business
Free
Anticipating
Differ
Entrepreneurs
Judgments
Losses
Market
Profits
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The reason why China forecasting has such a poor track record is that Westerners constantly invoke the model and experience of the West to explain China, and it is a false prophet. Until we start trying to understand China on its own terms, rather than as a Western-style nation in the making, we will continue to get it wrong.
Martin Jacques / Journalist
China
Forecasting
Invoke
Poor
Prophet
Track
Track Record
Constantly
Nation
Explain
False
Model
Record
Terms
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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.
Paul Hawken / Environmentalist
Business
Air
Clean
Clean Air
Cruise
Economy
Forecasting
Healthy
House
Proud
Sinking
Soil
Stable
Traditional
Water
Rules
Living
Achievements
Commercial
Deteriorate
Equivalent
Integral
Systems
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