Saturday, December 19, 2009

The Buffoon's forecasting failure!

Back in February I forecast 84 bank failures in 2009.
Whoops! - missed it.

Regulators shutter 2 big Calif. banks, 5 others
By MARCY GORDON, AP Business Writer
Fri Dec 18
WASHINGTON – Regulators on Friday shut down two big California banks, as well as banks in Alabama, Florida, Georgia, Michigan and Illinois, bringing to 140 the number of U.S. banks brought down this year by the weak economy and mounting loan defaults.
[emphasis added]
In my last paying job I was an economic forecaster - and I was the pessimistic one in my group!

aside: I am one of the few forecasters who will voluntarily let you know how I've performed. No - I do not have a sterling record about which to brag, but I am honest!
[I probably oughta revisit my stock market calls sometime soon...]

1 comment:

  1. Economic forecasters who beat "chance" are rare as hen's teeth, nest paw?

    Warren Buffett isn't prosperous because he has forecasters; he also has insider knowledge.