By Adam Button
ForexLive
When I started out in finance I had the good fortune to be able to interview many of the notable names on Wall Street and many more of the people surrounding them.
Without exception, they all ‘sounded’ smart. But over time I began to notice a difference. Some of them were really smart while others only sounded that way.
At some point I realized that many of the analysts were more concerned with sounding right than being right. As I paid closer attention I began to realize the people who sounded the best were the ones who were most often wrong, and not just wrong with predictions but wrong with the news, the facts or the state of markets.
I began to see that the people who were most often right were the ones who kept it simple. Instead of trying to justify the latest 40-cent move in oil prices because of a declaration of force majure in the Congo, they would say that kind of swing was the ebb and flow of the market or simply “I don’t know.”