From 7.1 of our textbook: “It is much harder to predict tomorrow’s stock prices than to fill in the blanks for a stock price we missed yesterday, even though both are just a matter of estimating one number. After all, hindsight is so much easier than foresight. In statistics the former is called prediction whereas the latter is called filtering”
This reads as though ‘the former’ refers to hindsight, and ‘the latter’ refers to foresight, but I’m sure the authors meant the opposite. It may be worth clarifying this prose in a future edition of the textbook.