DAVID SHAPIRO: The reputational risk of making forecasts
Whatever the experts tell us, it will not have any sway on the direction of financial markets
If you want to trash your reputation in the market, make a forecast.
Get it right, and the media bills you as a leading expert. Billionaire investor Howard Marks scoffs that a lot of people in financial markets have become famous for getting things right, once in a row. But get it wrong and you spend a lifetime defending your poor judgment...