Tuesday, June 16, 2009

1927-1933: Chart of Pompous Prognosticators

Berkshire Hathaway Letter to Shareholder, 1980:

We believe that short-term forecasts of stock or bond prices are useless. The forecasts may tell you a great deal about the forecaster; they tell you nothing about the future.


When a picture is worth a thousand words
(...and the thousand words that make the picture)