True story:

I get a call from an institutional client of the firm; Runs a bunch-o-money in Europe. He notes that a lot of my recent “Big Picture” commentary has been “economic in nature lately.”

“Well, thats where the action is at this phase of the cycle” I say. GDP, ISM, Manufacturing are all starting to show feeble signs of life.”

He wants to know if I am an economist.

I tell him “No, I’m a Strategist.”

“Whats the difference?” he asks.

I had to mull over that over for a while.

“A Strategist,” I tell him, “Is someone who is wrong about the future. An economist, on the other hand, is someone who is wrong about the past.”

He laughs it off. Too bad its sad, but true . . .

Category: Finance

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

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