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« Housing Effects on the Economy | Main | The Outcome Bias »

September 10, 2007

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RB

Today, while I was re-installing software on my computer, I noticed the Encyclopedia Britannica CD that I bought a few years ago. While growing up, the many volumes of the Britannica in a bookshelf were a status symbol in many households. I did not bother re-installing because I always go to wikipedia or google these days. I'll still keep my Britannica CD handy though.

David J Phillips

You ended your posting with the following comment: "It is easier for a thoughtful reader to spot potential biases in the open light of fair debate than if left completely to his own devices."

This sentiment--in of itself--sheds light on an additional benefit that some bloggers can offer to readers: Those of us with the "the methodological training to evaluate research studies and economic analysis" can offer third-party analysis of equities (or other markets) w/o the inherent biases often seen coming from 'professional' analysts working on Wall Street--pitching BUY recommendations on stocks that their firms have investment banking relationships with--or are looking to develop monied-relations with!

Some of us [qualified] to blog on the aforementioned subject post because of our love of the market and/or passion for the writing craft -- and not for the $$$$$$$$$.

Warmly,
David J Phillips, Publisher
www.10qdetective.blogspot.com

oldprof

Tim-

Thanks for describing your approach. I am delighted that you find this work valuable.

I hope that readers will be checking out your analysis regularly, as I am doing!

Jeff

oldprof

Financial Philosopher --

I am delighted to see a citation to Herbert Simon, little studied or understood by market participants. Everyone would benefit by viewing actions of government as the result of organizational behavior, as well as the insight you quote.

I strongly agree with your approach to reading blogs and urge readers to follow your links. I am not persuaded by your conclusions, but readers can follow your method and find their own choices.

One of our missions is to guide readers to the best sites, so I will be citing your post as I develop this theme.

Meanwhile, we might pursue the nuances via email or a conversation.

Thanks for your helpful comment and link.

Jeff

Tim

Dang, Jeff, I was hoping for a mention. Just kidding! Great post. I find too much of mainstream and blog information focused on the same information. I have narrowed my daily reading down to a few: this blog, Adam as mentioned, Jeff Matthews, T at Investing from the Right, Random Roger, Rich Karlgaard. These tend to be big picture guys with interesting perspectives. My research tends to be nuts and bolts of quarterly reports in lesser known companies. I hope I can bring some of that across on my blog. I do follow links from the blog above looking for a new nugget of information one of them may have highlighted that will help me. Thanks again.

The Financial Philosopher

I believe Herbert Simon sums up the effects of the proliferation of blogs best(although he said it over 30 years ago):

"... in an information-rich world, the wealth of information means a dearth of something else: a scarcity of whatever it is that information consumes. What information consumes is rather obvious: it consumes the attention of its recipients. Hence a wealth of information creates a poverty of attention and a need to allocate that attention efficiently among the overabundance of information sources that might consume it."

My solution is for information consumers "allocate" their attention by constructing a "blog portfolio" in the same manner as allocating their investment assets. Feel free to take a look at the following link...

http://financialphilosopher.typepad.com/thefinancialphilosopher/2007/07/quality-over-qu.html

Cheers...

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