Why Is the Financial Industry So in Love With Forecasts?

Howard Marks: It's clearly impossible to know anything about the future. You can't predict. You can only prepare. Mark Twain said it's not what you don't know that gets you into trouble, it's what you know for certain that just ain't true. I think it's much more valid and much more prudent to admit when you don't knows something than to act as if you do.