Good video. Basically what it reminds us is that stock is a very bad tool to measure anything. News loves it because they can infinately debate unclear information. They would prefer reading chicken bones to real economic data. And stocks sit somewhere between the two so that's perfect for them.
This is why the news makes people dumber. It's the dumbest possible people (dressed smart) presenting the dumbest arguments using the worst data, which is really just ignored anyway and used as an excuse to argue on the basis of emotional rhetoric. And worse, it presents itself as a valid intellectual hobby. But news consumption is the intellectual equal to really really liking mcdonalds and calling yourself a foodie.
Chicken bones reading is not accurate enough. I remember Excel Candlestick charts and the Hock Stick charts. None of them was accurate. Might as well use Voodoo?
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Good video. Basically what it reminds us is that stock is a very bad tool to measure anything. News loves it because they can infinately debate unclear information. They would prefer reading chicken bones to real economic data. And stocks sit somewhere between the two so that's perfect for them.
This is why the news makes people dumber. It's the dumbest possible people (dressed smart) presenting the dumbest arguments using the worst data, which is really just ignored anyway and used as an excuse to argue on the basis of emotional rhetoric. And worse, it presents itself as a valid intellectual hobby. But news consumption is the intellectual equal to really really liking mcdonalds and calling yourself a foodie.
Chicken bones reading is not accurate enough. I remember Excel Candlestick charts and the Hock Stick charts. None of them was accurate. Might as well use Voodoo?