I saw an interesting tweet by one of country’s renowned Technical Analyst who shows up on business TV channel every other day without fail.
This was his tweet along with this picture
For all those who think tv analysts dun make money, time to revise opinion?
My first thought was that it looks like an excel sheet (so not unforgeable) BUT leave that argument, let us for once think that data is absolutely correct.
What does this data point tell you?
Actually nothing!!!. I am really amazed how come people fall prey to such an easy trick. This trick is as old as the hills and it is amazing that it still works like magic. Below his tweet were remarks and comments of his “bakhts” giving him demi-god status.
What is the Trick?.
Trick is called a BROKEN CLOCK.
Let us say a Clock has stopped working and both its needles are at 12. Guess what, even when it is totally broken and junk, it will be correct 02 times in 24 hours. 12 in the morning and 12 in the afternoon
And now imagine this clock taking its own screen-shot on these 02 occasions and posting it on Twitter and facebook boasting its amazing accuracy. You get the drift rite!!
By pounding on your successes over and over again, you create public opinion. On a serious side, our opinion of country politics unfortunately is formed in the similar way depending upon what NEWS channel you subscribe to.
I simply asked him this
U earned the boasting rights based on 1 month data
U run a PMS, please share CAGR. along with DD since inception or admit u r a fraud. https://t.co/zmoff2JDZY
— Manish Dhawan. (@mysticfuture) July 20, 2017
He has already blocked my MysticWealth Twitter handle and therefore had to use my personal handle for this. It is only a matter of time before he blocks this too. You see I am not good for his business.
The strategy is straight forward, use social media as a UNI-Directional medium of communication. Keep blocking the critics and re-tweet the praises.
And another thing, I do not have any personal animosity with the person concerned. I am blogging here and pointing out a flaw of our industry. “Sheer lack of accountability” and a human flaw of looking at the sample and not the entire picture.