Terry Smith

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Last quote by Terry Smith

I remain amazed by the number of commentators, fund managers and investors who seem to be obsessed with trying to predict events on which to base their investment decisions. Even if you could correctly predict how matters would develop, and the timing, you would not be able to use this as a basis of investment decisions.Markets are a so-called 'second-order system' – you would not only have to make mostly correct predictions but would also need to gauge what the markets expected in order to predict how they would react. Good luck with that.feedback
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Jun 10 2017
Terry Smith has most recently been quoted in an article called Twelve months in the markets: what have we learned?. Terry Smith said, “I remain amazed by the number of commentators, fund managers and investors who seem to be obsessed with trying to predict events on which to base their investment decisions. Even if you could correctly predict how matters would develop, and the timing, you would not be able to use this as a basis of investment decisions.Markets are a so-called 'second-order system' – you would not only have to make mostly correct predictions but would also need to gauge what the markets expected in order to predict how they would react. Good luck with that.”.
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