Barry Ritholtz's Official 2014 Market Predictions Are Out, And They're Brilliant

Barry Ritholtz, the brains behind the Big Picture blog, is out with his 2014 global market and economic forecasts, and they are brilliant.

From his U.S. forecasts:

Category Forecast
Dow Jones Industrials No idea
S&P500 WTF are you asking me for?
10 Year Bond Could not fathom a guess
Fed Fund Rates Haven’t a clue
US Housing Market That’s a really good question
Inflation Not a clue
GDP Yes, we will probably have a GDP
Unemployment Thhhhpppptttt?
Possibility of Recession in 2014 Possibility & Probability are 2 different things

OK, so what the heck is this about.

Well, it’s obviously a joke.

However, the message is loud and clear: it’s foolish to try to predict what’ll happen in the near-term. More often than not, it’s just a mentally-frustrating and money-losing exercise.

Sure, it’s probably a good idea to make short-term, tactical adjustments to your portfolios if valuations scream opportunity. But, this should always be done in the context of your long-term, strategic investment plan.

So as you revisit your investments, keep Ritholtz’s forecasts in mind.

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