6 March 2010

Confused by experts?

At any time you can find prominent experts predicting that a market will go up and the similar number of experts predicting that the market will go down. Now we all know that this is what makes markets and as a consequence one should never pay too much attention to any one opinion. But when George Soros states that gold is in a speculative bubble and at the same time his funds increase their long position in gold substantially one has to wonder why one should consider expert's opinions as more than background music.