Vivek Kaul: The market for lies
Live MintThe social media erupted: Who is the better spinner? By the day of the final counting, this panel of so-called ‘experts’ were sure that the Bhartiya Janata Party-led National Democratic Alliance would not win as many seats as they had in 2014. And as soon as this became clear, the experts quickly moved towards offering reasons for why the BJP hadn’t done as well as it was expected to. And you can’t make the viewer wait by saying something like, “We don’t know why the Congress lost the election but please give us two days more. As John Allen Paulos writes in A Mathematician Reads the Newspaper: “Almost never does a stock pundit say that market’s or a particular stock’s activity for the day or the week or the month was largely a result of random fluctuations."
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