Читать книгу Taming the Lion - Richard Farleigh - Страница 23

The experts in the media promote the idea that markets are easier than they really are. A guy on TV or in the newspaper says that the price is going to do this and do that, and it sounds easy. The market can be beaten.

If the media put out a continual broadcast that the market has processed all the information and that the price is right, people would get the message. But they rarely say that. The message is that the behaviour of the market can be forecasted. It’s a persistent and seductive message, and people think ‘ah, I can have a go at that, I can make money out of that’. You can’t blame the average person for following what they read in the newspaper and what they’re being told on TV. However, many so-called experts are just commentators or analysts who often don’t have any track record and who often, to my ear, don’t even make much sense. Follow my advice below and listen critically, rather than just accept what you’re hearing or reading. You may be surprised to find that they’re not really experts.

Not that I blame the media for their financial guesswork. It can be very entertaining. But like a lot of gossip, the fact that it’s entertaining and interesting doesn’t necessarily mean that it’s the truth.