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Talking Real Money - Investing Talk

Shilling Wrong More Than Right

Talking Real Money - Investing Talk

Don McDonald

Business, Education, Investing, How To

4.2680 Ratings

🗓️ 5 August 2020

⏱️ 22 minutes

🧾️ Download transcript

Summary

Why do we keep listening to bad market gurus? Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

There are days when you're hungry for McDonald's.

0:03.0

Then there are days when you're Big Arch hungry for McDonald's.

0:08.0

You'll get to know the difference.

0:10.0

New Big Arch for Big McDonald's hunger.

0:13.0

Until 9th of September, from 11 AM,

0:17.0

participating restaurants only, subject to availability.

0:27.7

Reality Radio for a really great future.

0:29.8

We're talking real money.

0:33.2

Our wiring is a mess.

0:34.1

Really?

0:45.0

Our brains have a serious wiring problem why do we follow gurus why particularly financial gurus but why do we follow any of them i mean i've done some research on the subject and

0:51.7

apparently we have an overriding need to have someone tell us what will happen.

1:02.9

And we're willing to suspend disbelief to have someone tell us what will happen.

1:11.6

Even though we know, I think, logically,

1:15.9

that they're incapable of doing so.

1:18.8

Therefore, the popularity of psychics and the like.

1:22.6

And I guess all those financial experts who claim

1:26.0

to be able to predict the future, and yet

1:30.7

none of them have a track record to support the claim. None of them. I read a recent piece

1:40.7

by Gary Schilling, who's been prognosticating since, I think, the 70s.

1:49.6

I believe he was one of the few people who called the market crash in the 80s.

1:54.7

I don't remember exactly because that was a long time ago.

...

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