March 20, 2018

Brown: It Takes Two

Josh Brown—The Reformed Broker:

Lots of people have had their brains turned into mashed potatoes through years of exposure to hyper-partisan cable news and a lack of reading, learning and contact with the world outside of their own immediate friends and family. They don’t buy books, they don’t travel, they have very homogenous life experiences, they revere the past and fear the future and consistently make poor choices for themselves.

And then a data analytics company scrapes at the outer layer of what they post about themselves online and pushes their emotional buttons on a key topic or two. The rest takes care of itself. We have a legion of zombies in this country who refuse to accept that they’ve been conned. Partly, the con is their own fault – similar to many of the supposedly sophisticated investors who bought into Madoff’s flawless investing prowess or the Jobsian aura of Elizabeth Holmes and Theranos.

This sounds an awful lot like a group of people we know. The sunk cost fallacy is, ultimately, a fallacy. You can bail on this degradation of our culture, our country, and its jackass president any time now.

#Trump #JoshBrown #ReformedBroker