--- title: "Meaning & Key Takeaway of: We have long felt that the only value of…" description: "\"We have long felt that the only value of stock forecasters is to make fortune-tellers look good.\" — Warren Buffett" image: "https://sms4smile.com/quotes/i/f8e/warren-buffett-183_buffets_we-have-long-felt-that-the-only-value-of_2546498.png" --- # We have long felt that the only value of stock forecasters… ![“We have long felt that the only value of stock forecasters is to make fortune-tellers look good.” quote by Warren Buffett](https://sms4smile.com/quotes/i/f8e/warren-buffett-183_buffets_we-have-long-felt-that-the-only-value-of_2546498.png) [Download](https://sms4smile.com/quotes/i/f8e/warren-buffett-183_buffets_we-have-long-felt-that-the-only-value-of_2546498.png) [Open image](https://sms4smile.com/quotes/i/f8e/warren-buffett-183_buffets_we-have-long-felt-that-the-only-value-of_2546498.png) > “We have long felt that the only value of stock forecasters is to make fortune-tellers look good.” [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Stock forecasters mainly serve to validate predictions, not to create value themselves. **In simple terms:** Forecasters add little value. Key Takeaway Focus on creating value. Themes finance forecasting value creation Mood analytical skeptical Type business philosophical When to use this quote - investment decisions - financial planning - media commentary Key Concepts prediction bias market efficiency role of analysts Questions to Reflect On - How do you assess analyst credibility? - What alternatives exist to forecasting? A Different Perspective Overreliance on forecasts can mislead investors. ★ ★ ★ ★ ★ No ratings yet [Customer](https://sms4smile.com/quotes/about/customer/) [Fortune](https://sms4smile.com/quotes/about/fortune/) [Fortune teller](https://sms4smile.com/quotes/about/fortune-teller/) [Investing](https://sms4smile.com/quotes/about/investing/) [Market timing](https://sms4smile.com/quotes/about/market-timing/) [Values](https://sms4smile.com/quotes/about/values/) ## Related quotes > [We've long felt that the only value of stock forecasters is to make fortune tellers look good. Even now, Charlie and I continue to…](https://sms4smile.com/quotes/warren-buffett/we-ve-long-felt-that-the-only-value-of-stock-forecasters-is-to-make/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [Our stay-put behavior reflects our view that the stock market serves as a relocation center at which money is moved from the active to…](https://sms4smile.com/quotes/warren-buffett/our-stay-put-behavior-reflects-our-view-that-the-stock-market-serves/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [We continue to make more money when snoring than when active.](https://sms4smile.com/quotes/warren-buffett/we-continue-to-make-more-money-when-snoring-than-when-active/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [People have always had this craving to have someone tell them the future. Long ago, kings would hire people to read sheep guts. There's…](https://sms4smile.com/quotes/charlie-munger/people-have-always-had-this-craving-to-have-someone-tell-them-the/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [A forecasting game is a kind of simulation, a kind of scenario, a kind of teleconference, a kind of artifact from the future -…](https://sms4smile.com/quotes/howard-rheingold/a-forecasting-game-is-a-kind-of-simulation-a-kind-of-scenario-a-kind/) [Howard Rheingold](https://sms4smile.com/quotes/author/howard-rheingold/) > [“Fuck the weather forecasters and their predictions. With magic, he’d just turned their Doppler radar upside down. Sapphire Phelan (Being Familiar With a Witch)”](https://sms4smile.com/quotes/sapphire-phelan/fuck-the-weather-forecasters-and-their-predictions-with-magic-he-d/) Sapphire Phelan > [There are two kinds of forecasters: those who don’t know, and those who don’t know they don’t know.](https://sms4smile.com/quotes/john-kenneth-galbraith/there-are-two-kinds-of-forecasters-those-who-don-t-know-and-those-who/) [John Kenneth Galbraith](https://sms4smile.com/quotes/author/john-kenneth-galbraith/) > [No weather forecaster can tell you for sure when to wear a rain slicker, stock up on canned goods, or evacuate a city that's…](https://sms4smile.com/quotes/hannah-fry/no-weather-forecaster-can-tell-you-for-sure-when-to-wear-a-rain/) [Hannah Fry](https://sms4smile.com/quotes/author/hannah-fry/) > [I'm not an economist and we all know economists were created to make weather forecasters look good.](https://sms4smile.com/quotes/rupert-murdoch/i-m-not-an-economist-and-we-all-know-economists-were-created-to-make/) [Rupert Murdoch](https://sms4smile.com/quotes/author/rupert-murdoch/) > [Forecasters tend to learn less and less about more and more, until in the end they know nothing about everything.](https://sms4smile.com/quotes/edgar-fiedler/forecasters-tend-to-learn-less-and-less-about-more-and-more-until-in/) [Edgar Fiedler](https://sms4smile.com/quotes/author/edgar-fiedler/) > [Our present addiction to pollsters and forecasters is a symptom of our chronic uncertainty about the future... We watch our experts read the entrails…](https://sms4smile.com/quotes/eric-hoffer/our-present-addiction-to-pollsters-and-forecasters-is-a-symptom-of/) [Eric Hoffer](https://sms4smile.com/quotes/author/eric-hoffer/) > [“mistakes subject to so discerning and public a post‐mortem as weather forecasters.”](https://sms4smile.com/quotes/james-e-lovelock/mistakes-subject-to-so-discerning-and-public-a-post-mortem-as-weather/) [James E. Lovelock](https://sms4smile.com/quotes/author/james-e-lovelock/) > [Treat persons who profess to be able to cure disease as you treat fortune tellers.](https://sms4smile.com/quotes/george-bernard-shaw/treat-persons-who-profess-to-be-able-to-cure-disease-as-you-treat/) [George Bernard Shaw](https://sms4smile.com/quotes/author/george-bernard-shaw/) > [Using a forecasting company is like going to a fortune-teller. If you believe the company and the color does not sell, who do you…](https://sms4smile.com/quotes/tadashi-shoji/using-a-forecasting-company-is-like-going-to-a-fortune-teller-if-you/) [Tadashi Shoji](https://sms4smile.com/quotes/author/tadashi-shoji/) > [I'm an economist, I do a lot of forecasting, and I'm probably one of the most successful forecasters in terms of very specific kinds…](https://sms4smile.com/quotes/lyndon-larouche/i-m-an-economist-i-do-a-lot-of-forecasting-and-i-m-probably-one-of/) [Lyndon LaRouche](https://sms4smile.com/quotes/author/lyndon-larouche/) ## More by Warren Buffett > [To invest successfully over a lifetime does not require a stratospheric IQ, unusual business insights, or inside information. What's needed is a sound intellectual…](https://sms4smile.com/quotes/warren-buffett/to-invest-successfully-over-a-lifetime-does-not-require-a/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [“Be fearful when others are greedy, and be greedy when others are fearful.”](https://sms4smile.com/quotes/warren-buffett/be-fearful-when-others-are-greedy-and-be-greedy-when-others-are/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [Making money isn't the backbone of our guiding purpose; it is the by-product of our guiding purpose.](https://sms4smile.com/quotes/warren-buffett/making-money-isn-t-the-backbone-of-our-guiding-purpose-it-is-the-by/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [We set no volume goals in our insurance business generally-and certainly not in reinsurance-as virtually any volume can be achieved if profitability standards are…](https://sms4smile.com/quotes/warren-buffett/we-set-no-volume-goals-in-our-insurance-business-generally-and/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [Everybody's got a different circle of competence. The important thing is not how big the circle is. The important thing is staying inside the…](https://sms4smile.com/quotes/warren-buffett/everybody-s-got-a-different-circle-of-competence-the-important-thing/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [It is better to point out your own mistakes than have somebody else do it.](https://sms4smile.com/quotes/warren-buffett/it-is-better-to-point-out-your-own-mistakes-than-have-somebody-else/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [I've read about all the sales today. If you're an auto dealer, you're feeling it. If you're a furniture retailer like we are, you're…](https://sms4smile.com/quotes/warren-buffett/i-ve-read-about-all-the-sales-today-if-you-re-an-auto-dealer-you-re/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [I was lucky enough to be born in a time and place where society values my talent, and gave me a good education to…](https://sms4smile.com/quotes/warren-buffett/i-was-lucky-enough-to-be-born-in-a-time-and-place-where-society/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [The most common cause of low prices is pessimism - some times pervasive, some times specific to a company or industry. We want to…](https://sms4smile.com/quotes/warren-buffett/the-most-common-cause-of-low-prices-is-pessimism-some-times-pervasive/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [The reaction of weak management to weak operations is often weak accounting.](https://sms4smile.com/quotes/warren-buffett/the-reaction-of-weak-management-to-weak-operations-is-often-weak/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [What you really want to do in investments is figure out what's important and knowable. If it's unimportant or unknowable you forget about it.](https://sms4smile.com/quotes/warren-buffett/what-you-really-want-to-do-in-investments-is-figure-out-what-s/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [I don't measure my life by the money I've made. Other people might, but certainly don't.](https://sms4smile.com/quotes/warren-buffett/i-don-t-measure-my-life-by-the-money-i-ve-made-other-people-might-but/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [I mean the truth is, I've never had it so good in terms of taxes. I am paying the lowest tax rate that I've…](https://sms4smile.com/quotes/warren-buffett/i-mean-the-truth-is-i-ve-never-had-it-so-good-in-terms-of-taxes-i-am/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [The most important quality for an investor is temperament, not intellect. You need a temperament that neither derives great pleasure from being with the…](https://sms4smile.com/quotes/warren-buffett/the-most-important-quality-for-an-investor-is-temperament-not/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [Investors, of course, can, by their own behavior make stock ownership highly risky. And many do. Active trading, attempts to "time" market movements, inadequate…](https://sms4smile.com/quotes/warren-buffett/investors-of-course-can-by-their-own-behavior-make-stock-ownership/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) [Explore all 984 Warren Buffett quotes ](https://sms4smile.com/quotes/author/warren-buffett/) ## More Buffets quotes > [The most common cause of low prices is pessimism - some times pervasive, some times specific to a company or industry. We want to…](https://sms4smile.com/quotes/warren-buffett/the-most-common-cause-of-low-prices-is-pessimism-some-times-pervasive/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [The most important quality for an investor is temperament, not intellect. You need a temperament that neither derives great pleasure from being with the…](https://sms4smile.com/quotes/warren-buffett/the-most-important-quality-for-an-investor-is-temperament-not/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [I went to this restaurant last night that was set up like a big buffet in the shape of an Ouija board. You'd think…](https://sms4smile.com/quotes/steven-wright/i-went-to-this-restaurant-last-night-that-was-set-up-like-a-big/) [Steven Wright](https://sms4smile.com/quotes/author/steven-wright/) > [I try to buy stock in businesses that are so wonderful that an idiot can run them. Because sooner or later, one will.](https://sms4smile.com/quotes/warren-buffett/i-try-to-buy-stock-in-businesses-that-are-so-wonderful-that-an-idiot/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [I love Vegas. God knows that I know how to find my way around the buffets in Las Vegas.](https://sms4smile.com/quotes/rick-majerus/i-love-vegas-god-knows-that-i-know-how-to-find-my-way-around-the/) [Rick Majerus](https://sms4smile.com/quotes/author/rick-majerus/) > [I insist on a lot of time being spent, almost every day, to just sit and think. That is very uncommon in American business.](https://sms4smile.com/quotes/warren-buffett/i-insist-on-a-lot-of-time-being-spent-almost-every-day-to-just-sit/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [Do not save what is left after spending, but spend what is left after saving.](https://sms4smile.com/quotes/warren-buffett/do-not-save-what-is-left-after-spending-but-spend-what-is-left-after/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [The only thing they recognize is a buffet](https://sms4smile.com/quotes/bobby-h-barbee-sr/the-only-thing-they-recognize-is-a-buffet/) [Bobby H. Barbee, Sr](https://sms4smile.com/quotes/author/bobby-h-barbee-sr/) > [Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good results.](https://sms4smile.com/quotes/warren-buffett/never-count-on-making-a-good-sale-have-the-purchase-price-be-so/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [Risk comes from not knowing what you are doing so wide diversification is only required when investors are ignorant. You only have to do…](https://sms4smile.com/quotes/warren-buffett/risk-comes-from-not-knowing-what-you-are-doing-so-wide/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [I'm a big guy, but I'm really simple with the food. I'll hit the In-N-Out or just the regular buffets.](https://sms4smile.com/quotes/gabriel-iglesias/i-m-a-big-guy-but-i-m-really-simple-with-the-food-i-ll-hit-the-in-n/) [Gabriel Iglesias](https://sms4smile.com/quotes/author/gabriel-iglesias/) > [perhaps I possess a certain Midwestern sensibility that I inherited from my mother and her parents, a sensibility that Warren Buffet seems to share:…](https://sms4smile.com/quotes/barack-obama/perhaps-i-possess-a-certain-midwestern-sensibility-that-i-inherited/) [Barack Obama](https://sms4smile.com/quotes/author/barack-obama/) > [My first date has been...mythologized as 'Bieber's Dating Disaster.' I took her to a buffet restaurant. Yes, I wore a white shirt. Yes, I…](https://sms4smile.com/quotes/justin-bieber/my-first-date-has-been-mythologized-as-bieber-s-dating-disaster-i/) [Justin Bieber](https://sms4smile.com/quotes/author/justin-bieber/) > [There's nothing wrong with sending a quick note if you're busy or just want to flirt, but it's hard to have any real interaction…](https://sms4smile.com/quotes/greg-behrendt/there-s-nothing-wrong-with-sending-a-quick-note-if-you-re-busy-or/) [Greg Behrendt](https://sms4smile.com/quotes/author/greg-behrendt/) > [When you make a to-do list, you should also make a to-not-do list. Warren Buffet was asked about the secret to success, and he…](https://sms4smile.com/quotes/brian-tracy/when-you-make-a-to-do-list-you-should-also-make-a-to-not-do-list/) [Brian Tracy](https://sms4smile.com/quotes/author/brian-tracy/) Browse all 123 Buffets quotes ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "We have long felt that the only value of stock forecasters is to make fortune-tellers look good.", "creator": { "@type": "Person", "name": "Warren Buffett" }, "isPartOf": { "@id": "https://sms4smile.com/quotes/#website" }, "url": "https://sms4smile.com/quotes/warren-buffett/we-have-long-felt-that-the-only-value-of-stock-forecasters-is-to-make/", "about": { "@type": "Thing", "name": "Buffets" }, "@id": "https://sms4smile.com/quotes/warren-buffett/we-have-long-felt-that-the-only-value-of-stock-forecasters-is-to-make/#quotation", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/f8e/warren-buffett-183_buffets_we-have-long-felt-that-the-only-value-of_2546498.png", "contentUrl": "https://sms4smile.com/quotes/i/f8e/warren-buffett-183_buffets_we-have-long-felt-that-the-only-value-of_2546498.png", "url": "https://sms4smile.com/quotes/i/f8e/warren-buffett-183_buffets_we-have-long-felt-that-the-only-value-of_2546498.png", "width": 1080, "height": 1080, "caption": "“We have long felt that the only value of stock forecasters is to make fortune-tellers look good.” — Warren Buffett", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } }, { "@type": "BreadcrumbList", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://sms4smile.com/" }, { "@type": "ListItem", "position": 2, "name": "Quotes", "item": "https://sms4smile.com/quotes/" }, { "@type": "ListItem", "position": 3, "name": "Warren Buffett", "item": "https://sms4smile.com/quotes/author/warren-buffett/" }, { "@type": "ListItem", "position": 4, "name": "We have long felt that the...", "item": "https://sms4smile.com/quotes/warren-buffett/we-have-long-felt-that-the-only-value-of-stock-forecasters-is-to-make/" } ], "@id": "https://sms4smile.com/quotes/warren-buffett/we-have-long-felt-that-the-only-value-of-stock-forecasters-is-to-make/#breadcrumb" }, { "@type": "WebSite", "@id": "https://sms4smile.com/quotes/#website", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "publisher": { "@id": "https://sms4smile.com/quotes/#organization" } }, { "@type": "Organization", "@id": "https://sms4smile.com/quotes/#organization", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "logo": { "@type": "ImageObject", "url": "https://sms4smile.com/quotes/wp-content/themes/sq/assets/icons/icon-512.png", "width": 512, "height": 512 } } ] } ```