Economic Forecasts Are a Waste of Time — Peter Lynch Explains

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economics to me is when you talk about

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scrap prices when I own auto stocks I

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want to know what's happening to used

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car prices when used car prices going up

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it's a very good indicator when I own

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hotel stocks I want to know hotel

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occupies when I own chemical stocks I

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know what's happening these are facts

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aluminum inventories go down five

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straight months that's relevant i can

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deal with that home affordability i want

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to know about that i own uh Fanny May or

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I own a housing stock these are facts

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you can there are economic facts and

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there's economic predictions and

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economic predictions are a total waste

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and uh interest rates Alan Greenspan's a

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very honest guy he would tell you that

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he can't predict interest rates he can

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tell you what short rates are going to

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do in the next 6 months try and stick

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them on what the long-term rate will be

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3 years from now he'll say I don't have

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any idea so how are you the investor

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supposed to predict interest rates if

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the head of the Federal Reserve can't do