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Monday, April 13, 2009

Experts: They Aggrivate, Advocate but also Educate (PODCAST)

"Don't be buffaloed by experts and elites. Experts often possess more data than judgment. Elites can become so inbred that they produce haemophiliacs who bleed to death as soon as they are nicked by the real world." - Colin Powell

I get these emails all of the time: “What do you think of so and so? He says that we’ll see such and such

I’ll tell you what I think. I’m more interested in what terms that pundit uses and what facts he does and does not mention, than the conclusion that he’s arrived at. I discuss this, in the following podcast ...

(Podcast Included. If you're seeing this entry elsewhere and cannot play the podcast? Click this link to go to the exact podcast entry ...)



A couple of corrections: When I say: "Don't develop a bias", I mean: "Don't fall in love with your developed bias". When I said that the newest "hole" is trillions of light years across, I meant a billion light years across.

I will also say that as an 'economist who puts his money where his mouth is', my decisions and bias usually have about a three month, to 1 year time frame.

Click here to download this podcast.

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Note: This is not an investment or trading recommendation. The losses in trading can be very real, and depending on the investment vehicle, can exceed your initial investment. I am not a licensed trading or investment adviser, or financial planner. But I do have 13 years of experience in trading and investing in these markets. The Challenge accounts are run for the education of other traders who should make their own decisions based off their own research, and tolerance for risk.

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