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If you get good predictive power out of that position, it is all that counts. If the predictions hold true, it is neither folly nor is it denial. I will tell you a true story - an example of this methodology:
At my former workplace they were conducting an executive search for a "sweep" - SVP, senior vice president. A large office stood empty for many months, and nobody knew who or when would come to occupy it. So, a few months before they found their sweep, I predicted to my coworkers the nameplate they should be putting on that door: I had assumed an exaggerated facial expression of a prophet from bad movies, stared into the future with a hand with outstretched fingers extended towards that empty door, and in a sepulchral voice [I was overplaying it, I'm afraid] pronounced: " I see it... I see it... GREEDY A**HOLE". Well, several months later they found their sweep - and my prediction of what he was turned out to be so correct that a year later they had to squeeze him out.
Now homework for you: explain how that prediction was made possible. Additional information: I was NOT on the sweep search committee, and had no information link from them.