Why put sheep in my film? Why put sheep on the cover? Consider the Asch conformity experiments:
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August 10th, 2009 at 9:08 pm
Wow! Very interesting, thanks!
August 10th, 2009 at 11:52 pm
lol! poor guy…
August 11th, 2009 at 8:25 am
can you imagine if before you took that test you were told that everyone in the room with you is a specialist in thier field, a genius, analyst, some professor, etc. could you still make your own decision? those people are cnbc and the world of finance in a nutshell.
August 11th, 2009 at 10:16 am
This experiment shows exactly why most people can not make an above average return in the market. This type of conformity is not rational (when taking a step back). And since people are not rational, the markets (made up of people) are therefore not efficient, which makes above average returns possible, even over the long term. What I can’t understand is why so many academics and wall-street types can’t get this. Seems clear to me!
August 16th, 2009 at 2:28 pm
Everything you ever wanted to know about teams, groups and communism: that’s act according to the principle of common irresponsibility.
The wisdom of team allways turns down the profs to the lower average collective level. That’s the reason why the best traders trade alone (from an interview with A. Elder).