"One of the seven sins of fund management concerns the folly of forecasting. This is our obsession with trying to forecast the future. Yet there is an enormous amount of evidence to suggest that we simply can't forecast with any more accuracy than a coin toss."This quote is from a website called Behavioural Investing.But forecast we must. People want to know the future, and economists and other arithmetic scientists won't say it can't be doneaccurately. Our modern economy-public and private-demands forecasts. Although in the volatile oil and gas business these estimates are too often wrong, they do assist long-term planning. Hey, we might be right.
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