If we look at the success rate in the stock market, we see that very few actually make money. Most lose what they put in. This is very telling.
In this video I discuss how the masses are usually wrong. We often see this from people who should know better like the entire leadership of the retail industry.
Therefore, if you always find yourself in agreement with the maintream thinking, you might want to look into that. It certainly could cost you money.
▶️ 3Speak
The masses think this way because the present is a sure thing, the future is uncertain. People usually do what seems to them to be the safest thing to do.
It is very similar to the thinking we have in chess, perhaps the most obvious move and the one that everyone bets on is a trap that we must avoid, thinking long term is the "right" way to go.
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Summary:
Task discusses the tendency for the masses to often be wrong, using examples from the past like his prediction about banks, the rise of cryptocurrency, and current trends like remote work and the shift to electric vehicles. He emphasizes the importance of questioning common beliefs, following contrarian viewpoints, and not always relying on mainstream media or popular opinions. Task highlights the need to be aware of how quickly things can change, even within the crypto space, as seen with projects like EOS.
Detailed Article:
In this video, Task delves into the concept that the masses are frequently mistaken in their perceptions and judgments. He starts by sharing his experience of predicting the decline of traditional banks, particularly influenced by the rise of fintech and the decrease in the number of mortgages originated by banks. Task points out how he, along with many others in the cryptocurrency community, has challenged conventional beliefs and stood against the disbelief in digital currencies, attributing it to a failure in understanding the technological evolution that cryptocurrencies are part of.
Moving forward, Task draws parallels between the skepticism surrounding remote work and the shift to electric vehicles, emphasizing the role of contrarian viewpoints in foreseeing future trends. He cautions against blindly accepting mainstream narratives, citing examples like the failure of Sears due to the oversight of Amazon's threat and the overhyped promises of projects like EOS in the crypto space.
Task stresses the importance of staying vigilant, especially in the volatile crypto market, where media coverage often follows herd mentalities and the masses tend to be incorrect. He advises listeners to consider contrarian viewpoints, highlighting that while they may not always be accurate, they offer a different perspective that could potentially be more insightful than mainstream consensus.
In conclusion, Task encourages viewers to question popular beliefs, seek diverse opinions, and be wary of falling into the trap of echo chambers. By acknowledging the fallibility of common knowledge and being open to contrarian ideas, individuals can navigate shifts in industries and markets more effectively and make informed decisions in the face of changing trends and technologies.