Forecasts, Nowcasts and Pastcasts all have their right place in investing. The risk arises when the latter two start to disguise themselves as the first.
One reason why combining quant and fundamental investing is so hard is because quantitative analysis focuses on finding repeatable patterns while fundamental analysis focuses on identifying unique changes.
Things like imagination, creativity, and innovation - are experienced by the divergent mind. Yet as quants, we rarely spend time on divergent activity.
