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

France wins World Cup

Five major banks predicted the outcome of the World Cup in Russia, but 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 unfavored Croatia make it all the way to the final.

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

As with any World Cup, numerous individuals shined in Russia, with a breakout performance from France’s Kylian Mbappe among the highlights. See the rest of the story at Business Insider

NOW WATCH: Brazil’s empty $300 million World Cup stadium

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