Wouldn't planning be easy if we could see what was coming next? In the investment industry, much has been written about predicting investment returns and the future in general. Right now, you may be thinking, the consensus opinion says future prices can't be predicted and persistent alpha is statistical luck-not the result of skill. So why bother looking ahead? In my May 2009 column I mentioned examining what other disciplines are doing to peer into the future. This column discusses promising research into complex systems and insuring against volatility bubbles.
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