I was listening to a relatively old book about Warren Buffett in my car. In the book, the author mentions that Buffett likes to talk about how MBAs who are taught to believe in the efficient markets hypothesis are making his job much easier because he has competitors who aren't thinking clearly about investment opportunities. I find it funny that the same thing can be said about Buffett's ideas on the impossibility of forecasting.
The MBAs who believe in the EMH and the followers of Buffett* both believe that forecasting the future macro environment is too hard. A more subtle version is that even if someone is right slightly more often than not the transaction costs make trading off of the forecasts useless.
The net effect of this is the same as the impact of the efficient market hypothesis being popular - the more people who believe that forecasting is irrelevant then the less accurate the current market forecasts are, which means there is more reward for those right forecast. We saw this during the housing bubble, with many investors making a lot of money off of a forecast that was pretty accurate in hindsight.
In the immediate aftermath of a bubble which shook many businesses to their core there will be more focus on forecasts in the short term, but identifying under appreciated or unsustainable trends is usually an undervalued approach.
*Buffett does forecast in that he has a slight bias towards inflation.