When the latest issue of the Security Index journal was just about to go to print, I chanced to see a quote from Andreas Hoefert, chief economist of the UBS, a Swiss bank. Speaking last December about the 2015 global economic forecast released by his bank, he had this to say: “We need to be conscious that forecasts are usually more wrong than right. We have so many examples of blunders in forecasts. Maybe the biggest forecast error ever made was by noted economist Irving Fisher, who claimed in September 1929 that ‘equities have reached a permanent plateau”.