Book Review: Wrong

Think you know everything? Think you know a lot? After reading the book, Wrong: Why experts* keep failing us--and how to know when not to trust them *Scientists, finance wizards, doctors, relationship gurus, celebrity CEOs, ... consultants, health officials and more by David Freedman, you will realize that you don't know anything. If you think the experts, including stock analysts, economists, and scientists, know what they are talking about, you will discover that they are wrong, which is where the book gets its name.

Should you stay out of the sun? If you say Yes, you are wrong; if you say No, you are wrong. Does the type of college you choose affect your earning power? No matter what you think, you are wrong. Freedman discusses how the 'Hitchcock effect' can explain how mutual top performing mutual funds become top mutual funds. The same with hedge funds. And the great performance turns out to be a lucky streak.

Probably the most important chapter is the last one, which explains how to aviod being mislead by experts. Get a great reality check by reading Wrong.