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The Bull, the Bear the Macroeconomist and the Patient Investor

Monday's Experts by Roger Montgomery

It must be hard to know whom to believe. As an investor, and an educated one at that, you are no doubt reading as much as possible about global markets and economies to try and stay on top of all the things that might influence them in the short, medium, and long-term.

Naturally, if someone articulates a logical argument for what's going on in Europe or in the United States and helps you understand what has just transpired, it's easy to make the mistake of believing they 'must' also know what the future holds.

The 1984 Melbourne folk rock band, Weddings Parties Anything, wrote a song called Monday's Experts. Here's a verse;

Monday's Experts
Always know what's best
Always tell you what you should've done
Monday's Experts
Always know what's cooking
How the game was lost and how it could've been won

Let me ask you; who six months ago, predicted Italian Prime Minister, 75-year old Silvio Berlusconi, would fail to win a majority in a parliamentary budget vote? And who predicted Greek Prime Minister George Papandreou would be fighting for his job by attempting to form an interim government to avert the economy's collapse? Indeed a year ago who was even talking about a European debt crisis?

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