If I am going to trash others for their dumb predictions, I must at least hold myself to the same sort of accountability.

Rather than engage in the sort of selective retention that so many investors tend to do and pretend mistakes never happened, I prefer to own them. This allows me to learn from them and, with any luck, avoid making the same errors again.

Never forget this simple truism: Forecasting is marketing, plain and simple.

You can blow on the dice all you want, but whether they come up seven is still a function of random luck.

The good news is that economists are intelligent, engaging and often charming folks. The bad news is their work is often of little use to investors.

One thing I detest most about the financial press is the lack of accountability. All sorts of nonsense is said without penalty.

If I am going to trash others for their dumb predictions, I must at least hold myself to the same sort of accountability.