First Eagle Insights | After the Presidential Election
This morning’s election results once again drove home the futility of human efforts to predict the future. A majority of polls, political pundits and investment markets agreed that Hillary Clinton would be our next president, but they were wide of the mark. This same pattern was visible in June, when polls, markets and pundits were caught flat-footed by Brexit. The lesson here is one of humility. Complex events cannot be predicted with confidence, and, in our view, this is as true in the investment world as it is in the political realm.