People complain about meteorologists--they can "always" be wrong but keep their jobs. But what about all the talking heads on CNBC? Every minute, a relentless current of hindsight-fueled technical babble ("value dip," "momentum inflection") explains every ebb and flow of the markets.
Particularly entertaining is the analysis offered by TradingMarkets.com, prominently featured on Yahoo Finance. (Check out this sample.) We are presented with colorful charts and a flood of ticker symbols cited in rapid succession, which must mean expert analysis. Verification of past predictions or technical methodologies is, of course, not readily available.
"A Random Walk Down Wall Street" is the last book I will buy about the stock market. Don't waste a minute waiting for the next "Trap Door Pattern;" find a nice index fund, and go about your day.