“Trying to predict market quotations – for a stock, a sector or the whole market – is futile. It is astounding to see how many investment ‘professionals’ continue to waste their time and talent on an activity that has so many times proved its uselessness. And what is most surprising is that many investors still continue to read almost religiously market forecasts. In Greek mythology, Cassandra was condemned by Apollo to know the future but to be disbelieved when she foretold it. Hence the agony of foreknowledge combined with the impotence to do anything about it. Wall Street gurus are in the reverse situation: They don’t know the future but they are often blindly believed when they foretell it.”
—Francois Rochon.
