Financial experts are all around the media. But no one is vetting them for their expertise. So be careful.
That can be dangerous for longer-term investors who permit themselves to be impressed by the advice the media offers.
No Wall Street or financial community commentator or analyst has had to pass a genuine business-achievement test to determine expertise.
Forget about some of those fancy letters that many have attached after their names. They’re supposed to signify the experts had passed some test, or belong to a group who have. The public assumes this testing and association bestows a knowledge that members know what they are talking about when it comes to financial business operations. Passing a test of conventional thinking doesn’t necessarily confirm expertise.( See the Earl J Weinreb NewsHole® comments.)
No comments:
Post a Comment