Financial experts are all around us but no one is vetting them for expertise. That can be dangerous for longer-term
investors who permit themselves to be impressed by the advice the “expert” offers.
No Wall Street or financial community commentator or analyst has had to pass a genuine test to determine expertise. Forget about 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 investment thinking doesn’t necessarily confirm expertise.(See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)
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