The long good buy #1

Chapter 1. 

The difficulty of forecasting, of course, does not mean that there is little value in trying to understand potential risks and assess unfolding opportunities. Although precise point forecasts may not be very accurate when it comes to economic and financial markets, it is easier, and in many ways more important, to recognize the signals that point to a greater probability of an important turning point in financial markets. It is these inflection points that are so important because, as we will see in later chapters, avoiding sharp corrections, and participating in the early stages of a market recovery, are the times that make the most difference to an investor's returns.