I tend to agree with your perspective that hindsight is the acid test. So many people pretend they know what the outcome will be, but the world is complex and unpredictable. There were dire predictions of recession, but they never came to pass. Instead, it looks like the EU is having recession problems, not the UK. Yet, many will say, "I told you so!", whatever comes to pass. They had a 50:50 chance of getting the right outcome. When you try to tightly tie the outcome to your prediction, you are suffering from hindsight bias. You could have predicted something using a faulty decision process, or with poor data, or something that is unpredictable. Yet if you were lucky and guessed correctly, your self-serving bias attributes it to your skill and not to your luck.