Debunking the Experts

I loathe “experts”. Especially the talking head experts on television who attempt to forecast the stock market or other financial harbingers. It’s not so much the fact that they are, more often than not, wrong. It’s that they are never held to account for their previous missed forecasts and continue to be held out by the networks as “experts.” Here is a link to an article about financial “experts” who attempted to predict the stock market. Someone is keeping account.

2 thoughts on “Debunking the Experts

  1. Predicting is difficult – particularly about the future. The key to success in predicting the stock market is to “predict often and don’t keep records.” The underlying issue is buried deep in the human psyche – we have an in-born need to predict and control the future and we are pretty good at it in many areas. On the positive side, that instinctive need explains a significant part of our success as a species. If we plant corn seeds, corn plants will grow in the future. The dark side of that same instinct is that we aren’t very good at separating the predictable from the unpredictable. Hence the origins of fortune tellers and stock market pundits.

  2. Thank you for your comment Mike. I agree that predicting the future is necessary to our survival as a species. I have a problem with folks who give opinions in the ephemera and never have their paper graded. I think there are folks out there who really rely on these financial experts to their deep regret.My point is to not rely on experts blindly and do your own research.

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