Why You Shouldn't Foregoing Macro Forecasting

Most people don't like to say, i don't know when asked what the future holds. They want somebody to give them an answer which will satisfy their desire for safety. It made me think of what you were talking about in your recent memo. Spend your time better by studying the micro companies, industries and securities - other than in entirely efficient markets. If so, that's where you should put your effort -- those are the judgments that you should bet on.