 - Last login: 3 hours agoVousDeux
- the one you were warned you about is a 44 year old guy from Cadillac, Michigan, USA.
- Likes 817 pages, 1 video, 3 photos • 189 fans • Received 52 reviews
- Member since Sep 18, 2003
I'm just a busy guy who occasionally has something I want to say. Now, whether anyone is interested or not may be another story (while viewing this blog, you may want to make certain that you have selected the "Entire Blog," or "His Blog" setting.)
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Often we hear the pundits on financial television seemingly arguing about matters of right and wrong. However, the way I see it, since nobody really knows for sure how the market is going to react to any event, it really cannot be a matter of right or wrong.
From my perspective, the job of the financial pundits is to share with us their own individual reactions to events, so that we may better gauge for ourselves how we think the market may react to the said event.
In order for this to work, though, the financial television network must provide an adequate pool of pundits, with potentially opposing views, in order to give us a broad enough picture from which to draw our own conclusions. Keep in mind, however, that somebody is always going to be wrong and nobody is ever going to be consistently right. A wise man (perhaps Dick Davis) once said that there are two kinds of people in the market...those who don't know, and those who don't know that they don't know.
There also seems to be a rising number of bloggers who take sport in pointing the finger at those pundits who have fairly consistently taken a position that is contradictory to the reality of the overall direction of the recent market trend. While it may be easy for these bloggers to identify with these mistakes, it would seem to me that they are really missing the point.
The fact that these particular pundits are so consistently on the wrong side of the trade could very well be a blessing in disguise. When it happens that the other pundits may agree with what the frequently mistaken pundits are saying, perhaps this might be a good time to take notice of the situation (not to suggest that they may all be right).
The bottom-line remains, however, that we must each learn to rely on our own views; and the only hope of ever becoming successful would come from lots of practice, and often from pure luck. Anyone who would depend on someone else to tell him or her what the market is going to do probably wouldn't do much worse by just taking his or her money to the casino.
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