Dangerous Minds: The Track Record of Economic and Financial Analysts


 

Publication Date: December 2002

Publisher: Center for Economic and Policy Research

Author(s): Dean Baker

Research Area: Economics

Keywords: Financial projections; Retirement; Capital gains tax

Type: Report

Coverage: United States

Abstract:

This paper explores the failure of most financial analysts to predict the collapse of the stock market bubble. It shows the consequences of such overly-optimistic forecasting on federal budgeting processes and on the management of defined benefit pension plans.