Structural equation modeling for objective financial forecasts
It is indeed interesting how these projections are being made.I was wondering, on the DOW, have you tried running it on data upto say 1982, 1990, 2000 and see if the projections match closely with what actually happened.
I will post a chart of the DJIA with data up to 12/31/99 to illustrate the predictive value. You can see that the max/mins are better predicted than the actual magnitude of price.
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