Big banks like Goldman Sachs spectacularly failed to predict the World Cup winner — here’s why

France wins World CupMatthias Hangst/Getty Images

  • Five major banks predicted the outcome of the World Cup in Russia, and all but one got it wrong.
  • Goldman Sachs forecast that Brazil would lift the trophy, while UBS backed Germany.
  • Banks were afflicted by the sheer unpredictability of this year’s tournament, which saw Croatia make it all the way to the final.

The 2018 World Cup, which ended Sunday, was an almost unequivocal success. The soccer was scintillating, there was little trouble away from the pitch, and the controversial VAR replay system largely delivered as promised.

As with any World Cup, numerous players rose to the occasion, with a breakout performance from France’s Kylian Mbappe among the highlights.

See the rest of the story at Business Insider

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Post Author: martin

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Martin is an enthusiastic programmer, a webdeveloper and a young entrepreneur. He is intereted into computers for a long time. In the age of 10 he has programmed his first website and since then he has been working on web technologies until now. He is the Founder and Editor-in-Chief of BriefNews.eu and PCHealthBoost.info Online Magazines. His colleagues appreciate him as a passionate workhorse, a fan of new technologies, an eternal optimist and a dreamer, but especially the soul of the team for whom he can do anything in the world.

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