Experts are systematically wrong about the future because they are experts on an earlier version of the world, not the current one, meaning past expertise becomes a liability rather than an asset when conditions change.

causalpending

Speaker

Barry Ritholtz

Evidence Quote

“when experts are wrong it's because they're experts on an earlier version of the world”

Source

Why Money Isn't What You Think: Barry Ritholtz on the Meaning of Money and How NOT to Invest It— Excess Returns
Created: 8/11/2026, 5:35:27 AM

My Notes

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