Thursday, May 29, 2014

try blind luck

Putting their alternative take on economics to the world of stock picking, "Freakonomics" authors Stephen Dubner and Steven Levitt have told CNBC that investors might try blind luck rather than follow the advice of their portfolio manager.

"We talk about the ability of experts to predict the future, whether the future is geopolitical or financial. And if you look at, let's say, stock picking advice specifically, you find that the experts, the people that we must revere, the people that we pay the most, are generally about as good as a monkey with a dart board," journalist Dubner told CNBC Thursday. "So if you're a buyer you have to consider what their incentives are, what their research says and how counter intuitive you can afford to be."

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