Press Release (ePRNews.com) - GLASTONBURY, Conn. - Feb 19, 2020 - Symmetry Partners, LLC has just released its list of the 10 Worst Financial & Economic Predictions of 2019.
Forecasting short-term trends is notoriously difficult, yet every year Wall Street gurus, economists, and leading financial institutions try to predict what they believe will happen in global markets over the next twelve months. Sometimes they get it right. But more often than not, they don’t. And sometimes they make spectacularly bad calls.
Symmetry’s 2019 list features a number of prominent Wall Street Firms that missed the mark, including Charles Schwab, Morgan Stanley, Capital Group and Russell Investments. Failed predictions include bear markets that didn’t occur, stocks that didn’t outperform, and Federal Reserve rate increases that didn’t happen.
According to J. William G. Chettle, Director of Experience & Engagement with Symmetry Partners, “Market forecasts are almost by definition inaccurate, as markets are affected by a broad range of unpredictable variables. The global economy, geopolitical events, domestic politics, monetary policy and interest rates all factor in, and we can never overlook the role of human emotion and investor sentiment. We view any attempt to predict short-term market movements and trends with considerable skepticism.”
While billions of dollars are potentially wasted following flawed advice, there is a larger opportunity cost when investors are distracted or diverted from following their long-term plans.
As Patrick Sweeny, Symmetry’s Principal and Co-Founder, notes, “Because we believe in the long-term potential of markets to reward investors, we favor an investment approach built on logic, empirical evidence, and academic research. Investing for the long-term and sticking to a well-defined strategy is, in our opinion, the best way for investors to achieve their financial goals.”
About Symmetry Partners
Founded in 1994, Symmetry Partners provides financial advisors with a complete business solution. This includes best-of-breed, evidence-based investments, including the firm’s own family of mutual funds, as well as marketing, technology and operational assistance to help Advisors more effectively serve their clients.
As of December 31, 2019, Symmetry Partners has $8.4 billion in assets under management and assets under advisement, where Symmetry acts as a sub-advisor. For more information, please visit www.symmetrypartners.com.
J. William G. Chettle
Symmetry Partners, LLC is a Registered Investment Advisor located in Glastonbury, Connecticut. The firm designs and manages portfolios made available through a group of select advisors, including a suite of factor-based mutual fund and ETF portfolios. This content should not be considered investment advice. Information is provided for educational and background use only.