I was thinking the other day that if I were a young man
who was about
to attend college, what field would be the best to prepare for. I am
not interested in which field offers the best pay, rather, I would want
to find the field in which it is the easiest to get by. This reflects
my limited talents and the fact that I would just want to have an easy
day at work, not be bothered by high expectations. And after ruminating
about this I concluded that meteorologists and stockbrokers have it
best.
Just think about your local weather person, or a broker who advises
you. In both cases we have low expectations for their correctness. On
average, both of the two is right about 50% of the time. Hmmm I think
that's the same as flipping a coin before deciding what choice to make.
I could do that! Sign me up to be the weather forecaster. Perhaps the
guess ratio in the weather field is why so many meteorologists have
great skepticism of the "global warming" theory. The idea that climate
can be predicted so precisely, as the global warming advocates contend,
while humans can not even predict what the weather will be like 30 days
from now.
Meteorologists and stockbrokers deal not only in the scientific, but
also in the abstract and guessing field. Stockbrokers are like the
global warming crowd that is so sure that humans can control climate.
It's a false bravado based on the idea that the rest of us are just as
clue less about which stocks to buy or what controls weather as are
those two professionals. We listen to the meteorologist and stockbroker
because we want to have someone to blame for our own lack of awareness
about climate and the financial markets.
Some enterprising grad student should do research on this. Perhaps 1000
meteorologist could switch places with 1000 stockbrokers for a month or
so. A comparison of their accuracy in their new position to what they
predict after the switch would give us an idea whether my contention
that both are about 50% when predicting. Hmmmm Maybe I can take an
online meteorologist course and get my degree........
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