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We are conditioned to rely on conventional wisdom. Financial decisions we make are reinforced by friends
doing the same thing and by the recommendations of so called experts in the media. This is especially true in
the Internet age where blogging has replaced rigorous reporting by professionals, and the boundaries between
fact and opinion become blurred.
2007 was a bad year for followers of conventional wisdom. Think about the following financial news items that popped the in 2007 as you read the financial press or look at business news on television.