How do you judge if a blogger is correct? Is it by price movement? That is, if the price moves in the same direction as what the blogger writes, then he is correct. Conversely, if the price moves against him, then he is wrong. This is an easy and convenient way of judging a blogger, but is not necessarily correct. If you are a short-term investor, then short-term price movement can be the yardstick to measure a blogger. But if you are a long-term investor, short-term price movement is the wrong yardstick.
Using last year’s Brexit referendum as an analogy, most observers think that Brexit was a bad idea. However, the majority of British voters voted for it. Does it then mean that Brexit is good and most observers are wrong? The fact that the majority of voters voted for Brexit does not change the fact that Brexit is a …