Of blind squirrels and flying pigs...

Link to article here

if you don't have time to read the whole article, the points are summarized here:

• Economists cannot predict the turning points in the economy. Of the forty-eight predictions made by economists, forty-six missed the turning points.
• Economists’ forecasting skill is about as good as guessing. For example, even the economists who directly or indirectly run the economy—the Federal Reserve, the Council of Economic Advisors and the Congressional Budget—had forecasting records that were worse than pure chance.
• There are no economic forecasters who consistently lead the pack in forecasting accuracy.
• There are no economic ideologies whose adherents produce consistently superior economic forecasts.
• Increased sophistication provides no improvement in economic forecasting accuracy.
• Consensus forecasts offer little improvement.
• Forecasts may be affected by psychological bias. Some economists are perpetually optimistic and others perpetually pessimistic.(1)
  

Since the underlying basis of most stock market forecasts is an economic forecast, the evidence suggests that stock market strategists who predict bull and bear markets will have no greater success than do the economists.