I read a book a while ago called "The Wisdom of Crowds". The author pointed out several examples where the averaged opinions of a large group of people (regardless of experience with the topic) is nearly always more accurate than that of an expert.
I haven't got an expert to compare our group's prediction with, but I think that it will be interesting to see how accurate we are, and perhaps if we prove to be proficient at this, then maybe we collectively look at a stock or two.
With that in mind, I ask that you assist in an experiment where everyone predicts what the price of gold will close at in 6 months from today, Apr.24, 2008. I'll average any predictions up to Nov.24 and post them then. On Apr. 24, 2008 I'll post how we did.
Please don't post anything but your price prediction (no reasons or opinions), just a price.
The official price at posting time today according to Kitco - Gold Precious Metals - Buy Gold Sell Gold, Silver, Platinum - Charts, Graphs, Prices, Quotes, Gold Stocks, Mining Stocks, bullion dealers was $763.40.
My crystal ball says $804.10
I haven't got an expert to compare our group's prediction with, but I think that it will be interesting to see how accurate we are, and perhaps if we prove to be proficient at this, then maybe we collectively look at a stock or two.
With that in mind, I ask that you assist in an experiment where everyone predicts what the price of gold will close at in 6 months from today, Apr.24, 2008. I'll average any predictions up to Nov.24 and post them then. On Apr. 24, 2008 I'll post how we did.
Please don't post anything but your price prediction (no reasons or opinions), just a price.
The official price at posting time today according to Kitco - Gold Precious Metals - Buy Gold Sell Gold, Silver, Platinum - Charts, Graphs, Prices, Quotes, Gold Stocks, Mining Stocks, bullion dealers was $763.40.
My crystal ball says $804.10