Do finance experts know more than the average person?

wooder

colsten wrote: »

Of course finance experts know more than the average person. That's because the average person is not a finance expert. Although I don't know how you define what a finance expert is - to me it's someone who has studied, or trained, in a financial discipline and has professional qualifications.

What will you be asking next? Do brain surgeons know more about the brain than the average person does?

...or do they ?

talexuser

This whole general "anti expert" thing came out of the brexit campaign, and is a worrying trend along with a general anti-intellectual bias in this country. There is no way in the world I could replicate Woodford's performance if I was in charge of selecting shares. Just because many other managers can't either does not mean that he is not an expert - you have to choose your experts carefully, the tv will put any talking head on for a voxpop with expert written underneath. The paralymic fiasco is probably because the board in charge are not "expert" enough, a bunch of chinless wonder old boy networkworkers.

atush

The answer is yes.

And even they would know it isnt financial experts that are ruining the Rio paralympics- the organizers canabalized the paralympic funds to pay for overages in the ongoing Olympics.

Everything from extra security to draining and refilling the green pool.

xylophone

Ah well roll on 2020, I'm sure it will be by then, but anyone could have told the IOC, if they had sled,

Gone to the Winter Olympics?:D

Dird

talexuser wrote: »

There is no way in the world I could replicate Woodford's performance if I was in charge of selecting shares.

You don't think you can achieve 4% like he has this year?

Bazofts_Revenge

Experts generally have the knowledge to avoid making the big mistakes either through learning about them through study or experience. Amateurs could very easily just make the right choices IF they educate themselves first or quite simply through luck or even just by spreading the risk the good decisions far out weigh the bad. For me Domino's Pizza out weighs the poor choice of Tungsten Corporation.

talexuser

Dird wrote: »

You don't think you can achieve 4% like he has this year?

A pretty meaningless time period, maybe the 32% he achieved since I bought in Jun 14 with very low volatility, or farther back the quadrupling of my funds in Perpetual High Income.