(no subject)

[randomness]

Meteorologists are much more accurate much more of the time than financial pundits, but because everyone thinks they understand the weather, everyone feels like they're an expert.

The financial pundits have a great gig.

Comments

[achinhibitor.livejournal.com]

Not to mention that the people who can really make accurate predictions in the financial markets aren't flapping their lips on Channel 7 News. I seem to remember several financial institutions were selling all mortgage-backed securities sometime early in 2008, and one hedge fund made a killing by shorting them.

[r-ness.livejournal.com]

Yeah, I think you have nailed it in one. There's no incentive, and in fact a great disincentive, to telling anyone what you're actually doing. Giving misleading ideas that will make you more money by getting others to run after you? That's what you're likely to predict.

"Now, about those Greek CDS spreads..." :)

[achinhibitor.livejournal.com]

"I'm not a financial guru, but I play one on CNN."