Critics of the practice of trying to invest based on macro economic forecasting have repeatedly argued that the answer to this question is almost always a “no”. It is all too common, they argue, that vague macro observations are extrapolated into hollow and often meaningless investment advice. At worst, they argue, the entire approach of investing based on trying to predict macroeconomic trends is little more than pseudo-science.

https://www.ft.com/content/cf2addb2-6577-11e7-9a66-93fb352ba1fe