There have been so many instances when Experts Get It Wrong their general wisdom hasn’t worked and experts who keep hammering their wisdom for the longest time have to bite the dust when the result comes out.
Following are some of the expert opinions that went horribly wrong (generalized ones too)-
- Barrack Obama can’t win the nomination or the presidency since he is a first-term senator.
- Hillary Clinton will win the presidency in 2016.
- Brits will not choose to leave the European Union.
- Narendra Modi will not become the PM in 2014.
- Arvind Kejriwal will be a flop in politics.
- Before every sporting event, team X is going to win the tournament.
- Daily update on business channels – the stock market will go up/down.
- Financial outlook of world markets on all business channels.
- Movie XYZ will be a huge hit due to its stellar star cast and marketing.
- This is the best course of action (for someone else like during polls) to take.
Whats should we learn from this?
The truth is that the so-called experts know not much more than us. They do their jobs by writing articles, coming on news channels, etc. When we have to do something, we must look at our own judgment rather than relying on others’ opinions alone. Keep in mind Experts Get It Wrong sometimes too.
Do you know the “Monkey Business”? In 1973, a Princeton University professor Burton Malkiel performed research and wrote in his best selling book ‘A Random Walk Down Wall Street’ – ” A blindfolded monkey throwing darts at a newspaper’s financial pages could select a portfolio that would do just as well as one carefully selected by experts.” So much for so-called financial Experts. The same holds true for experts in most fields.
Who you take advice from can make or break you. Choose the right people to take advice from but more importantly, Trust Yourself.
Also read, Everything is ‘EASY’ if someones else is doing it
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