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URL:  http://boards.fool.com/you-are-neither-right-or-wrong-because-the-crowd-18351757.aspx

Subject:  Re: Quote from MadCapitalist's Profile Date:  12/29/2002  11:22 PM
Author:  ariechert Number:  88117 of 734971

“You are neither right or wrong because the crowd disagrees with you. You are right because your data and reasoning are right.” - Benjamin Graham (The Intelligent Investor, 4th ed., p. 287)

In the world of finance you are right if you make money and wrong if you lose money. All the analysts and financial consultants in the world can't predict what the market is going to do tomorrow, let alone a year or 5 years from now. It's like me trying to predict what the Powerball numbers are going to be next week based on what they were last week. I think they call it "independent variables?" (I'm no statistician) Where's Harry Dent now? Dow 36,000? If I could go back in time to March, 2,000 and sell my IRA, get a fixed 6% annuity, and I'd be one happy camper now. I bet no Japanese 10 years ago could've predicted where the Japanese Stock markte would be today. Hindsight is 20/20. - Art
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