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by passerby1 1519 days ago
Interesting. Which of his books do you refer here to?
1 comments

This one[1]. To be clear I haven't read the book. However, I have read quite a bit of his articles and watched his talks all of which I highly recommend.

The crux of the argument is simple enough. One should attach more weightage to opinions of who have stake in what they talking about. For instance, an a bond trader will have more realistic picture of economy than someone like Paul Krugman. Bond trader earns his wages by being more correct about economy. Paul Krugman on the other hand can change his opinion at the drop of a hat with zero negative impact to his earnings.

[1] https://www.goodreads.com/book/show/36064445-skin-in-the-gam...