Expecting a Market Downturn? Make Sure You’re Following the “Noah Rule”

In his letter to Berkshire Hathaway shareholders for fiscal year 2001, Warren Buffett made one of his now-famous pronouncements:  “Predicting rain doesn’t count, building an ark does.” Buffett admitted to forecasting some of the market turmoil during the year, which was exacerbated by 9/11, and yet he failed to convert […]