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If the semi-final results of the Asian Cup constituted your sole basis for making forecasts, you might be tempted to issue warnings before tomorrow's final of a storm of Australian gloating.
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The Dow is similarly useless for making forecasts.
It is useless for analyzing history or making forecasts.
"He had no basis for making these predictions".
One case, however dreadful, is no basis for making policy.
But Mr. McCullough has some basis for making his claim.
And John Maynard Keynes observed that "human decisions affecting the future, whether personal or political or economic, cannot depend on strict mathematical expectation, since the basis for making such calculations does not exist".While reflecting these insights, imperfect-knowledge economics still sees a role for economic theory in forecasting.
Hurd is one of a shrinking pack of CEOs to even make forecasts for 2009.
Two imponderables make forecasts impossible.
They have to make forecasts.
Make forecasts.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com