Why Are We Such Suckers For Prediction?

I'm always screaming at the shills that CNBC brings on to the show. Bob Iaccino knows his stuff and Bill Gross does too...and of course a few others do also...but the good majority of people we see on a daily basis...are complete idiots. So imagine my surprise when I saw the following article in Market Club:

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 more value in what we know over what we don’t know...

This is an unbelievable article, and you're going to think that it's talking about you!

Now every day this blog's readership goes up and it's probably due to the success of my trading...but I learn from others. So...

...pick an area of investing that you want to learn about by going to the Market Club Trader's Blog. Then you can see everybody's blogs on one page...Bonds to Forex...people that I learn from every day...also don't forget to read the rest of this psychological article too.