Cross Sectional Data and Predictive Power

Why do we say that cross-sectional regressions have unknown predictive power outside the specific sample and time period used to generate the regression?

Predictive power means moving along the time axis.

Cross-sectional data are, be definition, orthogonal to the time axis.

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basically, cross-sectional is about looking at a certain performance at that particular moment in the time whereas times series is more about how a variable moves through time.

Yup.

Magician always doing his magic. Thanks

What brought you to call yourself Magician?

Um . . . Iā€™m a magician.

Mostly close-up, sleight-of-hand ā€“ cards, coins, pens and pencils, and so on ā€“ and some parlor (stage) magic.