Its not just financial markets that are impossible to forecast........... - The Hyperion Effect

I saw this link on the The Big Picture website and then watched the video, however the insight probably comes in the first minute when he made the following statement

One thing that became very clear, especially after Gorbachev came to power and confounded the predictions of both liberals and conservatives, was that even though nobody predicted the direction that Gorbachev was taking the Soviet Union, virtually everybody after the fact had a compelling explanation for it. We seemed to be working in what one psychologist called an “outcome irrelevant learning situation.” People drew whatever lessons they wanted from history.

 Seems that most of the ‘experts’ were claiming after the fact that they knew it was going to happen and the reasons why!.

Sounds familiar…………….

Click to view video

Source: Edge

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