This blog post originally appeared on RealMoney Silver on Dec. 27 at 10:28 a.m. EST.
"Never make predictions, especially about the future." -- Casey StengelThere are five lessons I have learned since my first surprise list for 2003:
- how wrong conventional wisdom can be;
- that uncertainty will persist;
- to expect the unexpected;
- that the occurrence of Black Swan events are growing in frequency; and
- with rapidly changing conditions, investors can't change the direction of the wind, but we can adjust our sails (and our portfolios) in an attempt to reach our destination of good investment returns.