Predictions – a Pringles conundrum

Predictions, from stock markets to sports games, more often than not leave users of the information disappointed after the event.

But why are we so enthralled by what the so called ‘experts’ say?

Undercover economist Tim Harford says forecasts are like Pringles – ‘Nobody thinks that there’s any great virtue in them but offered the fleeting pleasure of consuming them, we find it hard to resist.’

Something to remember the next time someone tells you where the Rand is headed, that famous ‘trade of the day’ or planning holiday destinations against weather forecasts for that matter…

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