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Asset Allocation

Predictably Unpredictable

Submitted by Legacy Financial Group on January 18th, 2013

By Eric Burkholder, Portfolio Manager


A 2012 review of market outcomes and the “experts” who failed to predict them.

“Prediction is very difficult, especially if it's about the future.” - Niels Bohr, Danish physicist

The world of investment advice and market forecasting is very profitable.  Let me rephrase that.  The world of investment advice and market forecasting is very profitable for those selling the advice.  The outcome for those who invest on said advice is not quite as rosy.  So each year I make a point to track all the “expert” predictions and highlight some of the more pronounced failures.  2012, as expected, did not disappoint.

Tags:
  • 2012 market return
  • Asset Allocation
  • failed predictions
  • Forecasting
  • Market Predictions
  • predicably
  • unpredictable
  • Read more

The Secret to Predicting Mutual Fund Performance!

Submitted by Legacy Financial Group on April 10th, 2012

By Eric Burkholder

There is a very good article out today on MarketWatch.com.  "You are the best predictor of next bull or bear" The title is misleading but the theme of the article is this:  There is no evidence that any person or any expert has any ability to predict mutual fund returns or forecast the economy.  Actually, an even better summary of the article is in the affirmative: There IS significant evidence that traditional performance metrics cannot reliably predict mutual fund performance and there IS significant evidence that experts do a very poor job of predicting turning points in the economy.  

Tags:
  • Active Management
  • Asset Allocation
  • economy
  • Forecasting
  • Read more

Sasquatch Sighting!

Submitted by Legacy Financial Group on March 27th, 2012

In the era of perpetual reality TV offerings it is no surprise that Big Foot has finally nabbed his own TV series. And like most outrageous reality TV I caught myself watching for a few minutes.

Tags:
  • Active Management
  • Asset Allocation
  • Read more

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