Sometimes wrong, but never in doubt

Source: The Business InsiderAspiring to be a market sage is dangerous business as any Wall Street "strategist" will tell you. The basic problem, of course, is that human beings cannot predict the future.  What makes it so difficult for us humans to learn this simple fact? And why are we so susceptible to charlatans who claim they can?

A year ago, we posted a link to a presentation by Dimensional Fund Advisors called Is It Different this Time. In their presentation, they showed how bad market pundits have been over the years at calling market bottoms.

In case you need further evidence of this fact, the folks at The Business Insider, put together an entertaining slide show of the latest group of supposed gurus to find their predictions dashed upon the rocks of this year's market rally. 

The point of this post is simple: ignore the talking heads. If you want to build wealth and keep it, develop a sound investment strategy based on your particular situation and stick with it.