I came across
this at Ritholz, which noted that popular Keynesian economist pundit Mark Zandi has a horrible track record. The problem with pundits is that rarely do people care, and like Jim Cramer you just predict so often it's not obvious what your forecasts were.
People care when you're bearish and wrong. Much more tolerance for bullish and wrong.
ReplyDeleteZandi has mastered the kind of dull-and-impersonal-but-likeable-and-authoritative persona. Sort of like a weatherman. And nobody expects him to be right, that's not the point.
ReplyDelete