Uncertainty arises in markets when their future direction is unknown. Families across Canada, for example, are wondering whether the housing markets will continue to lose steam or reverse their course.
We know many Haider-Moranis Bulletin readers are wondering the same thing, because the concern informs one of the most common questions they ask us: Should I buy now, or wait until later?
Before we address that question, we will start with a caveat from George Box, a renowned British statistician. Box warned that “all models (forecasts) are wrong; the practical question is how wrong do they have to be to not be useful.”
While we will try to share what we see in our “crystal ball,” we are always mindful not to confuse a forecast — which is just one possible manifestation of the future out of many — with what will actually come to pass.
Continue to read on: Financial Post