Why Are We Such Suckers For Prediction?
Trading School (August 30th, 2009) Writes:
It doesn’t matter what news source is your “go to” they tons of insane, and often, wrong market analysis…so why do we still watch? In this article Charles Maley from ViewPointsofaCommodityTrader.com takes a stab at digging into our psyche…enjoy the article!
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I keep CNBC on all day while I work. Perhaps I think I will miss something, or maybe it’s the background noise that’s appealing. In any event, what I always find amazing is the parade of experts making one prediction after another. I think I would fall out of my chair if I heard one of them say “Well, to tell you the truth Mark, I have no idea”.
What’s most surprising is the arrogance in which these forecasts are made. The forecaster always seems convinced he is right. I think the world is far more complicated than we think, yet we always seem to place way
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