Deborah Hill Cone writes here specifically about financial journalists. The gist of her piece is that financial journalists are, en masse, the last people anyone should listen to for advice. The thought being that if you’re a savvy and successful investor, you’re unlikely to be still meeting deadlines and under the stress that journalism is.
To paraphrase (and mix metaphors in the process) he piece, “If you can’t do teach” or in this case “If you can’t do, write about it”.
Of course she’s right/write. The majority of so-called experts around the place, be it in business, IT, real estate etc – make more money from selling their advice than they do from taking it. It’s why I’ve always been dubious about the “10 secrets to commercial property investment” type seminars and books.
So who do we listen to? Those that are doing it. In the business world steer clear of business advisers who aren’t actually in business. Similarly I’m incredulous at the number of people holding themselves up as gurus in corporate governance who don’t understand the basic premise of the business.
Bottom line – if you’re talking about something, you need to come from a history of understanding. That’s my take anyway….. (made more personally relevant due to my exposure to a chap who tends to be a self processed expert on…. well pretty much anything and everything)