Good point, and one made by Chris J. also. Don’t let an economist manage your money. They do have interesting insights into the economy, because they spend all day tracking trends, and can put the time into forecasting. But their track record on predicting the future is really bad.
Talbott would have done better if he’d advised people to check the real estate leading indicators before selling: days on market (untampered version, if there is one), inventory, affordability index. And buyer psychology. Anyone who made a decision based on his book definitely lost money. Talbott emailed me that I should buy Ibonds with my money. He actually believes the government CPI!
After that, I learned not to let an economist manage my money. I bet their personal portfolios underperform the market by a lot!
