And the assumptions can only be measured exactly by looking backward at historical returns.
The folks at Ford Motor can be forgiven for spending some time looking backward.
Looking backward, IBM might have chosen differently had it known how important PCs were to become.
Looking backward, it seems the modern defense industry was a response to the confluence of four unusual trends.
Additionally, by tracking your happiness, the app can cause you to continually be looking backward through rose-colored glasses rather than staying in the present.
Will the sirens of the past, looking backward, pull the company into gladiator battles with old foes trying to hold share in narrowing, declining markets?
And while many of us are looking ahead to a time when it is safe again to check our financial statements, law enforcement officials are looking backward.
Persistence in the direction of house-price changes suggests that expectations are set by looking backward: prices are expected to rise because they have done so in the recent past.
Those who were optimistic for Sears were looking backward.
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Meanwhile, Hewlett-Packard still seems to be looking backward.
It was messy, it was forward-looking and backward-looking at once.
History writer and former teacher Trevor Fisher however described the report as "awful" and "backward looking".
And they both said that the problem with Moody's analysis was that it was backward looking.
This was to have been be a backward looking test, looking at what firms had done in the past 10 years.
Confidence surveys are fairly coincident at best, if not backward looking.
He understands the risk that in portraying itself, Britain might be seen as backward looking, wallowing in its past, nostalgic for the "good old days".
"The suggestion that they are going to address this by dealing with the whole issue of contamination of seminarians is backward looking and disingenuous, " he said.
Well the, the, the US Federal Reserve certainly has, is moving aggressively, maybe going for an overkill and the European Central Bank is firmly backward looking and is not moving until inflation has come down so the, there is room to criticise the policy of the European Central Bank.
Investing is a forward-looking exercise, however, not a backward- or even coincident-looking one.
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They are backward-looking and don't reflect Fed errors until a year or two after the crime.
Other firms claim that their backward-looking and forward-looking measures are even more closely correlated.
It is clearly backward-looking as well as forward-looking and in its worst forms it is a licence for fraudsters.
The same flawed thinking led bank regulators to create the backward-looking Basel models for setting capital levels in banks.
The technique itself is 90 years old, and even the Swedish Royal Academy of Sciences is not that backward-looking.
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Policy plans adopted now would either be backward-looking, out of date by the next election, or stolen by Labour.
The backward-looking nature of this approach is also troubling, even to potential fans of the approach such as Mark Carney.
While the information is backward-looking, the vote of confidence from central banks does help market sentiment when the buying is confirmed.
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Instead, Mr Burnham wants to see a "Modern Baccalaureate" as an alternative to what he describes as "Gove's narrow backward-looking vision".
How can the EU claim to be a political model for the 21st-century superstate when it remains so backward-looking on this key point?
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