Prediction Results: Gary B. Smith, David Dreman, John Bogle, Brian Wesbury, & Ken Heebner

By on October 25, 2009

Results from predictions made by gurus, pundits and money managers last year continue to reveal the difficulty of making accurate forecasts of the economy and markets.

Click on spreadsheet for larger image:

Gary B. Smith was on the wrong side throughout the early stages of the bear market and cost anyone who listened to, and acted on, his calls money. He typified Fox Business News wrongheadedness.

David Dreman didn’t foresee the effects of a housing bubble collapse on bank balance sheets. As a result, he had a horrible year and wiped out most of the gains made in the previous bull market resulting in his firing from managing the DWS Dreman High Return Equity Fund.

John Bogle’s very general prediction that returns would be modest has been an understatement as of this date.

Brian Wesbury missed the freight train bearing down on investors, even though all the signs of a massive credit bubble bursting were evident.

Ken Heebner is paid to pick stocks and his belief last year the outlook was bright was wishful thinking and pollyannish to the extreme.

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