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Barry Ritholtz: Cutting Through Financial Noise - [Making Markets, EP.58]

Making Markets

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The Fallacy of Expertise

This chapter explores the notion that 'nobody knows anything,' highlighting its relevance in both Hollywood and the finance world. Through various anecdotes, it discusses the pitfalls of assuming credibility based on past successes and introduces concepts like the halo effect and epistemic trespass. The chapter emphasizes the importance of critical thinking and discernment when evaluating predictions outside one's area of expertise.

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