The media have no problem in finding and profiling financial gurus. They never have to work hard at it because their reports are often public relations placements.
As for gurus, there are so many would-be experts, you are bound to find “experts.” You merely dispense with the many more losers.
One classic example: There are at least 100,000 individuals in the U.S. giving financial advice. If you had any 100,000 folks flipping coins by groups of two, heads or tails, someone in each group would win the toss, going on to the next round. With only a 50/50 chance of winning each round, each winner would go onto the next contest.
After 18 or 19 head or tail flips you will find a genius who had won the toss every time. He or she will then probably write a book about the expertise. With a 50/50 chance to fail to guess the toss the next flip.
The same with the genius 100,000 or so giving securities advice. ( See the Earl J Weinreb NewsHole® comments.)
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