Paul Farrell responded to Wharton School prof Jeremy Siegel’s most recent predictions for the Dow by year-end 2013,download who said: “My Dow 17,000 projection may turn out to be too timid.”

He channels William Sherden, author of “The Fortune Sellers: The Big Business of Buying and Selling Predictions.” Sherden decided to test the accuracy of leading forecasters over a multidecade period. His conclusion: Forecasters stink.

Farrell summarizes Sherden’s findings in 11 bullet points:

1. Economists’ predictions are no better than guesses
2. Government economists often worse than guesses Continue reading

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