In an opinion piece published in this newspaper, Sasfin Securities strategist David Shapiro made the point that financial markets exist to make a mockery out of forecasters, and that if you want to trash your reputation in this market, make a forecast (“The reputational risk of making forecasts (../2021-05-07-david-shapiro-the-reputational-risk-of-making-forecasts/)”, May 7).

As a long-time reader of financial market “tea leaves”, I am sad to say he is not wrong. In this business you are almost always wrong. I have found it more fruitful to try to discern how the moving parts relate with one another than to predict where they will eventually go...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now