MAMOKETE LIJANE: The market tea leaves seem to be brewing up good news

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Forecasts are often wrong, but sometimes you just have to stick your neck out

In an opinion piece published in this newspaper, Sasfin Securities strategist David Shapiro made the point that financial markets exist to make a mockery out of forecasters, and that if you want to trash your reputation in this market, make a forecast ”, May 7).

As a long-time reader of financial market “tea leaves”, I am sad to say he is not wrong. In this business you are almost always wrong. I have found it more fruitful to try to discern how the moving parts relate with one another than to predict where they will eventually go...

 

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