Fail-Safe Investing by Harry Browne

Author:Harry Browne
Language: eng
Format: epub
ISBN: 9780312263218
Publisher: St. Martin's Press

The Benefits of Forecasting

Forecasts are not entirely useless. Someone's predictions can help you recognize that your own expectations for the future aren't the only possible outcome. This can help keep you humble and prudent.

And a forecast might call attention to a potential future that others are ignoring. If you come to feel a given event is quite possible but most people disagree with you, the market probably will provide a big payoff if you bet on that event and prove to be right. So if you like to watch the investment markets closely and you see a potential future that most people are ignoring, you may want to make a small speculation with money you can afford to lose.

But the key word is “potential.” No one can foresee the future reliably. No future is inevitable. No event has to happen.

And a sure way to lose what you've accumulated is to risk the funds that are precious to you on the idea that some event is inevitable.

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