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Kurt's avatar

"An expert is a man who has made all the mistakes which can be made, in a narrow field."

….Niels Bohr

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Handle's avatar

One big thing I left out of that comment was the importance of "Skin in the Game". Or instead of "thinking in bets" you could say "Reporting In Bets", that is, verifiably or credibly putting a lot of their personal value at stake in the outcome of some prediction that can be objectively evaluated by outsiders in the short or medium term. An expert on nylon or polyester or efficient packaging theory may have some interesting ideas on the safest way to pack a parachute. But the opinions of the guy who sky-dives on a regular basis and who has to pack his own parachute are trustworthy in a qualitatively different way.

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