Betting on Wall Street’s market forecasts predicts trouble for your portfolio

Before reading the year-ahead market forecasts that will undoubtedly be coming across your desk in coming weeks, go back and read last year’s forecasts.

Doing this will save you in two ways: You’ll save the time you’d otherwise spend reading this year’s offerings, but more importantly you’ll avoid the losses you most likely would otherwise suffer when betting on forecasts that are no better than a coin flip.

I…