When I started writing this blog, the name SciPre was short for Science of Prediction. But investing is very little prediction. Predicting markets, such as the timing of crashes, is extremely hard to pull off with any consistency. To quote Warren Buffett: “The only value of stock forecasters is to make fortune-tellers look good.”
Rather, investing is a lot of preparation, and in times of risk… preservation. There’s an element of prediction too, but it’s a small piece. I was on a flight last night when I decided to rename my blog from “SciPre – Science of Prediction” to “SciPre – Science of Preparation”.