America’s market and economic gurus are all over the map in their predictions! No real consensus. Wise extremes. For example, every quarter Barron’s comes out with a “Big Money Poll” predicting the Dow. USAToday does one too. So does BusinessWeek. They all do, it’s obligatory, for fun. Readers love them. Economists and pundits chime in. Seems everybody’s got an opinion, bulls go way high, bears low.
Often the gap between high and low predictions is so great it’s a joke. Even the pundits know a consensus is useless, even dangerously misleading. Indeed, later we learn they’re way off base, confusing rather than enlightening us. We’ve been snookered, again. But then new nonsense fills up the demand for daily breaking news and we forget. Till it’s too late: Like when leaders like Greenspan, Bernanke, Paulson and many other ideologues totally missed the 2007-2008 subprime, credit and derivatives meltdown.
Unfortunately, this relentless attack of conflicting news is no laughing matter. Underneath, this is all part of the psych-ops propaganda that increases anxiety and stimulates investors to focus more on short-term thinking, and results in a futile, frantic search for elusive answers. So ask yourself: Are you in this game as a “rational investor?” Or one of America’s vast gene pool of “irrational investors?” Which are you? How can you tell? Well, we have test to help you decide: “The 10 Habits of Highly Irrational Investors.” Take this simple test and you’ll see how rational (or irrational) you really are, plus six simple tactics you can use to protect yourself. (More)