the media and predictions…

the media is a fantastic predictor of what the future will look like…neither are they able to predict tomorrow’s index, nor oil prices, nor interest rates.

however after an event happens, they still continue to look, talk and feel intelligent…and without an apology.

if you think I am talking about Cnbc, well the others are similar, are they not..read this article on motley fool..

http://www.fool.com/investing/general/2012/07/10/histories-of-things-that-never-happened.aspx#.T_9lKZEXFtg

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2 Responses to “the media and predictions…”

subra on July 13th, 2012 at 5:42 am

http://www.fool.com/investing/general/2012/07/10/histories-of-things-that-never-happened.aspx#.T_9lKZEXFtg

thanks to some problem in wordpress i am not able to hot link this in the article and hence putting it as a comment..sorry for the inconvenience…
Sanjeev Bhatia on July 13th, 2012 at 10:43 am

Very well written.

“The value in calling out bad predictions isn’t to point fingers at those who have gotten it wrong. It’s to point fingers at those who listen to and put faith in those predictions, assuming that suddenly, this time, experts can accurately see the future when history shows — conclusively — that they can’t. It’s not the experts, but the people who listen to the experts, that are the real fools.”

This really takes the cake. Surely, in today’s information overload, separating wheat from chaff is increasingly getting difficult.

Subramoney