There was a show on this year called The Trouble with Experts (click here for information) the premise of which was that firstly, we are addicted to experts and their meanderings and secondly, that we place too much stock in their ability to "predict" the future. Furthermore we don't like experts who seem tentative and cautious -- because if they are not overly confident (aka arrogant) than we think that they really don't know what they are talking about.
Well in this last year the prediction by most "experts" was that the stock market had gone through the worst, and that we were in for a bull market. Predictions also were that in major cities in Canada, the real estate bubble would burst because prices, again according to the experts, were anywhere from 10 to 25% over-valued.
And what has happened, stocks went back down, the euro-crisis is running rampant with our lives and invariably the real-estate market has not collapsed or even remotely swung down in Canada.
So what to do? Well, I think the best thing is to stop listening to so called experts -- in some ways we are hooked on them, just the same way we are on weather forecasters -- no matter how wrong they are on a continual basis we chose to listen to what they have to say vs. looking out the window.
So this year...let's try to look out the window -- let's try to make sage choices based on what the world is telling us...get information from multiple sources -- you can listen to the pundits -- just don't believe them.
And perhaps place more credence on the real experts who are cautious in their approaches and provide insight but invariably will note that this is their opinion and not gospel!
