The foresight of financial experts was, as so often, a poor guide to the future.
Meaning
Galbraith noted in his money history that confident expert predictions often failed. Forecasts sound authoritative but cannot remove uncertainty. When you hear a bold market prediction, treat it as opinion, keep a diversified plan, and never stake money you cannot afford to lose on it.
Source: Money: Whence It Came, Where It Went (1975)
Best Money Quotes with Meaning
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About the author
John Kenneth Galbraith (1908–2006) was a Canadian-American economist and Harvard professor. He is known for books such as The Affluent Society and The Great Crash, 1929, which examined wealth, markets and speculation.
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