The Power of Belief with James Randi

[pinoy_09]

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@hitch: I'm not too familiar with his scheme, but just based from what you said, it sure seems like preying on the weak and ignorant is a damn good business.

PS: Might be unrelated, but I saw an article on CNN earlier this morning (or I think it was Yahoo), that just because one is a financial expert, doesn't mean he/she is good with managing money.

[teoding]

Orcoy, still alive, eh? Well, I already know the kind of things that you posted here even way before you can say “mama”. I don’t care about them and sure won’t waste my time contemplating about them. I have more important things to attend to like making millions and getting laid.

I’m going to spoon-feed it to you. You will not get harsh replies if in the first place you do not post things like this:

anybody who has evidence of their GOD, there's $1,000,000 waiting for you. what are the GOD DELUSIONS waiting for?

and:

"The BIBLE is nothing but my toilet paper, yes, I really did use it to wipe the waste in between my glutes."


Then after you read my reply, you acted like an autistic kid on a tantrum. Follow the golden rule: I assume this is applicable to atheist and theist alike. After all, we are all civilized and educated people here. (Hope you are also). Do not do unto others what you do not want others do unto you. Capic?

[SioDenz]

Ang Gahum sa Pagtuo nag depende sa kung unsa ka tinuod ang imung gituhuan.

[hitch22]

@hitch: I'm not too familiar with his scheme, but just based from what you said, it sure seems like preying on the weak and ignorant is a damn good business.

If you want to call a spade a spade, yeah, that's how it looks like. But we generally buy books with titles that appeal to our situations. For example, if you're one of the working wounded, then you'd be drawn to titles that would suggest some solutions to take you from where you are to where you dream to be. And you'd feel good after buying it, because you now have some anticipation of a possible paradigm shift or an epiphany that would change your life dramatically. That could be so. It always depends on how likely a new idea is going to be applied.

But as long as it's just books, I think they're harmless. In fact, I even have three Kiyosaki books with me...just to remind me not to buy any more of them .

PS: Might be unrelated, but I saw an article on CNN earlier this morning (or I think it was Yahoo), that just because one is a financial expert, doesn't mean he/she is good with managing money.

When they say "good with managing money," they need to explain what "good" means. In financial circles, investment performance will always be compared to the index, like S&P500 or Russell 2000 or Vanguard 500, etc. Each index is just a collection of stocks that focuses on a specific sector of the economy. So any investment manager whose funds perform below their relevant index's performance would be considered as an inferior performer. I mean, if you throw your money on the index, you don't need to pay for load, commission and management fees. Statistically speaking, from what I've read (Peter Lynch), majority of managed funds do not outperform the index. So that statement in CNN is well supported.

Having said that, financial experts (especially those that work in investment institutions) would still have an advantage over non-professionals. They have the tools, access to information (including a hotline to investor relations), and they keep track of stocks the whole day. Mere mortals like us do not have much time to keep track of all these things.

But what about Warren Buffett? He's the most successful stock picker in history. How does he do it? One, he knows what he's buying and how much it should sell for. Two, when he buys, he just doesn't buy a stock or two; he buys the whole company.

OT: when Warren Buffett was pressed about his religious beliefs, he wrote back one word: Agnostic.

[kenites]

Skeptics needed n this thread https://www.istorya.net/forums/genera...ne-teller.html

[ambotani21]

his article is not worth reading if you're really a Christian

[hitch22]

Skeptics needed n this thread https://www.istorya.net/forums/genera...ne-teller.html

Tempted to post something there, but the majority seem to insist it's all in good fun. It would be wrong to rain on that parade. I think fortune-telling is one of those issues that resolves by itself. After a couple of wrong predictions, it should dawn upon the person that it's all mumbo jumbo. And if it is 100% accurate, then they should be happy about it and stick with it.

Getting an accurate picture about the future can make one rich. Imagine picking the right stocks or the right lottery numbers. If indeed fortune-telling is accurate, then fortune tellers or their customers should be among the richest people in the world. Do the facts bear out the claim? I don't think so.

[pinoy_09]

If you want to call a spade a spade, yeah, that's how it looks like. But we generally buy books with titles that appeal to our situations. For example, if you're one of the working wounded, then you'd be drawn to titles that would suggest some solutions to take you from where you are to where you dream to be. And you'd feel good after buying it, because you now have some anticipation of a possible paradigm shift or an epiphany that would change your life dramatically. That could be so. It always depends on how likely a new idea is going to be applied.

Desperate times call for desperate measures.

Certainly, knowledge is power. I couldn't imagine how many times people fell for scams due to ignorance, then when it comes biting them in the ass, it's too late. This is why we should all advocate for skepticism and critical thinking, because it is a useful weapon not only for scams, but life in general. Like you said, lots of mumbo-jumbo out there.

But as long as it's just books, I think they're harmless. In fact, I even have three Kiyosaki books with me...just to remind me not to buy any more of them .

It's harmless, if you allow it to accumulate dust on your book shelves. As soon as you take them at face value, serious consequences await.

*ehem Bible.

When they say "good with managing money," they need to explain what "good" means. In financial circles, investment performance will always be compared to the index, like S&P500 or Russell 2000 or Vanguard 500, etc. Each index is just a collection of stocks that focuses on a specific sector of the economy. So any investment manager whose funds perform below their relevant index's performance would be considered as an inferior performer. I mean, if you throw your money on the index, you don't need to pay for load, commission and management fees. Statistically speaking, from what I've read (Peter Lynch), majority of managed funds do not outperform the index. So that statement in CNN is well supported.

Having said that, financial experts (especially those that work in investment institutions) would still have an advantage over non-professionals. They have the tools, access to information (including a hotline to investor relations), and they keep track of stocks the whole day. Mere mortals like us do not have much time to keep track of all these things.

But what about Warren Buffett? He's the most successful stock picker in history. How does he do it? One, he knows what he's buying and how much it should sell for. Two, when he buys, he just doesn't buy a stock or two; he buys the whole company.

OT: when Warren Buffett was pressed about his religious beliefs, he wrote back one word: Agnostic.

I regret that I could no longer find the article. Oh well... ehehehe. Thanks for the heads up. Oh, talk about Buffet buying companies, yesterday, Warren Buffet invested so much money on a bank full of crooks---Bank of America (unfortunately, it's my bank)

[hitch22]

I regret that I could no longer find the article. Oh well... ehehehe. Thanks for the heads up. Oh, talk about Buffet buying companies, yesterday, Warren Buffet invested so much money on a bank full of crooks---Bank of America (unfortunately, it's my bank)

This is one of Buffett's specialty...what he calls cigar butt stocks. Of course, BofA isn't cigar butt . You wouldn't hear about Buffett when the economy's "irrationally exuberant" like in the years leading up to the tech bubble. He'll get busy when everyone's heading for the exits. That's the lesson from his mentor Ben Graham which he takes to heart: Be fearful when others are greedy, and be greedy when others are fearful.

Taking over an institution with crooks? He's been there, done that...think Salomon Brothers.

[jrtugz17]

research John Calub...