It seems as if every time I see an interview with a fund manager, a high-level fund company executive, or a famous economist, the interviewer asks the expert to predict the future in one way or another — “given [any recent piece of economic news], what do you expect to happen with [some particular investment or asset class]?”
I’ve never understood the desire to ask these questions. Even experts can’t predict the future.
That’s why I particularly enjoyed this reply from Vanguard’s Chief Economist, Joe Davis, during an interview in the most recent In the Vanguard newsletter:
“I encourage our clients to try to minimize the attention they pay to economic news, because I think that can actually lead to the pitfall of wanting to react.”
(The interview is available online here.)
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Thanks for reading!