So how have I picked the market while virtually all the other economists have missed the mark?
Why did Steve Keen, an esteemed professor who’s well recognised around the world for his research get it so wrong?
It’s really very simple:
These economists don’t understand property.
They’re generalists.
Sometimes I scratch my head and think “why can’t they see what I see.”
But then I have to remind myself that these guys hardly ever invest their own money and don’t really have any idea when it comes to property.
They’re generalists. And just as a general practitioner can’t perform heart surgery, you’re average economists almost always gets property predictions wrong.
The real tragedy though is for the people following their advice.
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