
βIβve been in business, running Berkshire for 58 years, and Iβve never opined an economic forecast of any use to the company,β Warren Buffett, CEO of Berkshire Hathaway, said in an April interview with CNBC.
βIf I depended on economic forecasts, I don't think we'd make any money,β he added.
That might sound surprising considering that businesses always have to plan ahead and invest for expected future sales.
But in the context of planning, economic forecasts arenβt helpful if theyβre not accurate. And theyβre often inaccurate.
Economists have been off the mark π€¦π»ββοΈ
For months, weβve been hearing prognostications about an impending recession. And as we continue to learn, these calls have been off the mark.
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