10 of the dumbest irrational beliefsEvery site book or video introducing what trading is says the same: The number 1 threat is being emotional.
I agree, but I would be more clear and call it being irrational, or better, having a reptilian brain.
"Being emotional" sounds like someone getting all hysterical, that's not how traders fail, they fail because they got caught up in the hype, get scared of violent moves and remove their orders (to then see they missed a winner but since they don't log their trades they actually never notice the pattern), get complacent, fail to see the world as it is, think the dot com bubble will never pop because of "virtuallity means there can be infinite profitability" (makes 0 sense, comptletely irrational), et cetera.
In this idea, I will present some of the best irrational ideas (and a few of the funniest), that some people somehow believe in.
Let's learn what NOT TO DO.
Good thing I don't want to start a hedge fund or work as an analyst or anything, so I don't have to pretend I respect these people that fall for clown baits.
1- The warming is bigger than you think!
According to journalists that claim 97% of scientists agree with them:
Russia is warming 2.5 faster than everywhere else
news.yahoo.com
China is warming faster than everywhere else
www.ecns.cn
According to the very serious very official IPCC, Europe has been warming faster than the global average
www.theguardian.com
Europe: Ireland is warming twice as fast as everywhere else
www.irishtimes.com
Europe: Britain has been warming 50% faster as everywhere else
www.telegraph.co.uk
Europe: Finland is warming twice as fast as the rest of the planet
www.zmescience.com
Europe: Sweden temperature rising more than twice as fast as the global average
www.thelocal.se
West Africa is warming faster (76%) than the rest of the world (West Africa is Mauritania Mali Niger and all the countries under those in the "bulge" of west africa)
www.ghanabusinessnews.com
South Africa is warming faster than the rest of the world
www.traveller24.com
The arab world (MENA) is warming faster than the rest of the world (summers to warm twice as fast)
www.economist.com
www.arabstates.undp.org
Mediterranean is warming up faster than the rest of the planet
english.elpais.com
Asia vast landmass warming faster than everywhere else and end of the world (famine droughts etc)
www.tasnimnews.com
Canada warming twice as fast as everywhere else
www.theguardian.com
Arctic is warming at astonoshing rate (other articles say twice as fast)
www.npr.org
Mountains communities suffer as mountains warm... you guessed it, twice as fast as everywhere else
psmag.com
USA are warming faster than the rest of the world
www.theguardian.com
The antartic is warming faster than everywhere else (10 times!)
www.nasa.gov
www.coolantarctica.com
Australia warming twice as fast as everywhere else
www.ft.com
Kuwait: Alarm as Gulf waters warm three times faster than average
Removed article
BONUS: Even Mars is warming 4 times as fast as anywhere else on earth. Must be manmade ;)
www.sott.net
Ok to be fair, it could be that the equator and the 2 big oceans are warming more slowly, and every where other than that is warming faster.
But they are launching the alarmism on oceans too, and always saying how "equatorial regions (which are all poor) will be hit the worse"
Pacific ocean warming 15 times more than before
eu.usatoday.com
Ocean warming accelerating faster than thought (really? faster than thought? when all the models were way overestimating the warming?)
www.nytimes.com
Ocean water off west coast acidifying at twice the rate of global average
www.oregonlive.com
There are no articles, not a single one, on a location where "warming slower than everywhere else".
Since warming is to blame directly for everything, and countries where warming is bigger will be touched more, how come they always say that countries where warming is smallest (around the equator) will be impacted most and it will create waves of millions of climate migrants from central america & africa??? Logic??? It's worse in developped countries therefore consequances will be worse in developped countries, but also consequences will be worse in developping nations which will create climate refugees. Every where the impact is worse than everywhere else.
All the focus is on creating alarmism out of thin air.
In any set of data, some samples will be above average, other ones are below average. Simple statistics. All speculators should know this.
Rating hungry media simply pick the extremes in the sample to create alarmism, and people fall for that.
It is completely irrational. Unless the variance was completely huge, which it is not, a 1-sigma variation is nothing special.
They did not point to anything out of the ordinary, nothing was discovered or created.
I could pick literally anything and go "xyz stocks prices fall twice as fast as the entire stock market" to scare people and really dumb people are under the impression that everything is falling fast which is a whole other special kind of stupid.
"warming faster than average" "acidifying faster than average" "today I pooped twice as much as usual". Basic stats there are always outliers...
2- The coronavirus is the greatest threat of our generation and we will all lose a loved one
It killed what? Like 2500 people in 2 months? And spring is 1 month away.
"Coronavirus cases spike in Iran, country most hit after china" ==> Wow a whooping 8 deaths. I am scared. Iran pop is around 80 millions if I recall correctly.
www.cnbc.com
The flu ==> Up to 650,000 respiratory deaths per year.
Ebola ==> Who knows how many millions since its discovery.
Heart disease cause by eating trash in huge quantities, smoking ==> hundreds of millions of deaths. No one cares, people keep smoking and eating 4 kg poop a day.
This is how the Corona Virusses work since their discovery in the 60s.
And this has lasted for 60 years - holding head in hand & blushing.
3- There is a global conspiracy to hide from us that the earth is flat
Ok, why? And... how is EVERYONE on board with this? Also, why?
What about the proof? The logic? The more proof?
Flat earthers... One died yesterday in his homemade steam spaceship to prove earth was flat (I kid you not).
They ask you for proof if "what you say is true" and add a little "aha!".
Then you come up with proof.
Then they disregard the proof "bah you made it up".
Nothing can convince them.
They think the world is surrounded by antartica which holds water in.
Gravity doesn't exist to them.
They have eyes. Sometimes telescopes. They can see other planets. They can see every visible object that is not earth is nice and round.
Yet, earth is not???
They come up with the most idiotic explanations for tall buildings disappearing under the curvature as you move away from them, or how the sun circling earth can possibly work (why is half of earth dark for half the day while the other half is lit to put it simple).
If there was a market for the shape of earth, they would keep betting on "flat" and getting tore apart by the trend continuously going towards "globe".
4- Internet/Crypto "infinite profitability"
You might have missed this, but during the dot com bubble, BAD speculators were explaining to every one how because the internet is not physical and all tech and everything, "infinite profitability" was possible, which means the stock market would literally never stop going up.
I did not make this up. There are recordings. You can check for yourself.
I think we can hear this exceptional argument in the 2001 documentary "What Happened".
During the dot com bubble, companies (especially IPOs) that had absolutely no business model no profit no nothing were getting so much money for nothing.
They bought the most expensive furniture, that was not even used. It was ridiculous. Anyone could come up with their "start up" and a 30 seconds speach and get huge funding. Investors didn't care about what commanies were doing. "Internet stuff? Take my money!"
Stanley Druckenmiller which was Soros associate or worked for him and generated the british pound idea, lost billions getting his reptilian brain fired up and thinking the dot com stocks would never stop going up. He recently invested in a new hype market, cloud companies, which is a few years old now (before crypto bubble) I worked in this hype scam, seemed ridiculous to me, and I am glad this bubble burst.
They laughed at Warren Buffet for being cautious, and they got burned...
We had the same happen recently with not IPOs but this time ICOs.
People told me I was overly bearish 2 years ago for saying Lisk would fall to 1 dollar and even below, they thought it was going to 300 bucks on rebrand LOL!
Well guess what? I was right all along, and the price bounced on almost all the levels I pointed out 2 years ago:
Of course these bubbles bring all the scammers. Bitconnect promising 1% a day because of "their magical arbitrage bot".
Money just appears out of thin air in people mind? These reptiles realize what 1% a day means? 3700% after just 1 year.
It's more than Ponzi or Madoff ever promised...
The internet & crypto bubbles, both irrational. Nothing "changes the laws of economics". There is no "infinite profitability" wealth that magically pops out of thin air. There never will be. pretty sure the laws of math & physics are never going to change.
5- Famous one: Tulip Mania
Every one knows about this one I guess. Imagine paying fortunes for some bulb because "it's so fashionable".
It's just a stupid flower you idiots!
6- Fashionable self harm & harm to others
Did you know there was a time (and a place) when poisoning people was fashionnable? Oh how awesome! Stabbing someone was a punishable crime and offended people, but poisoning someone? Oh how cool you are!
According to ancient greek texts, a habit in Ethiopia was that when the king was disabled in a part of his body, his entourage would mutilate themselves to have the same disability.
I've read about dumb teenagers inserting needles in their bodies or strangling themselves because it's the trending thing. I don't even want to look into that, I'd risk losing some brain cells.
7- Cigarettes are good for you, and radioactive drinks give you vigor
Lol. Well it's self explanatory I think XD
This is what people used to think a century or so ago
8- The jews/witches are responsible for all the ills of society
Repeating one...
Funny thing is before the little ice age the church called the fear of witches a dumb superstition, they tried their best to make pagans look stupid and this was I guess one of those things? And a few centuries later when CO2 levels declined and people started getting HANGRY here is the church, burning hundreds of thousands of witches...
9- Penny stocks
A news of a partnership or other shill comes out and some penny stocks go up hundreds of percent because "this might be the next amazon".
It's way overvalued, by ignorant retail traders, it always falls right back to zero (baseline), and they keep falling for it. Idk man.
10- "I believe in science"
Here you have 99% of science (I do not include maths) theories that end up getting disproven (or as some call it "improved"), and yet, some clowns are "die hard believers because science is true whether you agree or not".
Mkay, so for the past 10000 years science kept getting it wrong over and over and evolve, but today, this very day, this is when all of it is correct and won't be proven wrong?
Just come up with a new "amazinging sciencism", make it flashy and revolutionary and all, launch a few companies, buy shares so price go up, and enjoy your billions as suckers pile in...
