Mainstream economists say that the stock market functions so flawlessly and automatically that investors can’t really take advantage of either economic theory or the latest information. Keynesians, on the other hand, darkly paint investors as so irrational, so easily spooked by “animal spirits,” that specialized and general knowledge are thwarted at every turn. You can’t second-guess “crazy.”
So should we take cold comfort in the agnosticism these two very different schools push? As investment advisor Roger McKinney simply puts it in his new book Financial Bull Riding, no. Investing is not so much like gambling as it is a rodeo. Knowledge and skill can, in fact, pay off.
|Author: Roger McKinney|