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Davos Prophesies

wealthymatters,comIf you are inclined to follow the news reporting of the WEF-2013,do so by all means but don’t take everything that is said seriously.

There might be something as the wisdom of the crowds,but the “wisdom” gained from the sound bytes generated from some of the billionaires and the financial ,political and academic elite gathered at Davos,Switzerland may not be the most accurate.

The predictions that emanate from Davos always have a ring of plausibility to them because of the credibility of the speakers. But all too often they fall short. Here is one example: Bill Gates has made the pilgrimage to the Alps for more than a decade and made a series of somewhat famous – or infamous – predictions in that time.When asked about Google back in 2003, he didn’t have an upbeat outlook on the company’s future nor its founders. “These Google guys, they want to be billionaires and rock stars and go to conferences and all that,” Gates said. “Let us see if they still want to run the business in two to three years.”

To the left are other such projections. Not all turned out wrong,but even people who got one thing right got other things wrong.So watch the Alpine scenery and the power show,go to Switzerland if you must ,these days its become pretty cheap,but don’t take everything you hear as serious investment advice.

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