2013 is here and for now it would appear that the US Fiscal Cliff has been averted. I'm not one for making too many predictions, but over time I have come to the conclusion that there is one prediction that can be made where you have a pretty good chance of being right or mostly right. It's a prediction that can be made at more or less any time, but the new year seems appropriate as it is around this time of year that attempts to predict the future are quite popular.
Here's the prediction.
Most predictions that you will probably read about over the next week or so will be wrong. Most, especially the doom and gloom or overly optimistic type, will be way out wrong and never happen. Chances are that for the most part the world will carry on, for better or worse, pretty much as before. Ups and downs, good times, bad times, occasional shocks and surprises. Markets will get their fair share of all of these.
To all readers here's to a happy and prosperous new year in whatever you venture to do.
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