Wednesday, May 06, 2020

Beware Experts Who Aren't

Campbell Harvey, finance professor at the Duke business school, is an expert.  He must be, it says so right on his CV.  He also supposedly has a perfect track record for calling recessions.  He just put that record at serious risk.  He thinks the current economic crater will be over by the end of the year.  And he thinks that largely because he believes the world will know by then that we'll have a vaccine for SARS-COV-2 in Q1 2021.

Folks, there isn't an epidemiologist on Earth who believes we'll have a vaccine that quickly.  The good professor may know a lot about business finance, but he knows so little about epidemiology he doesn't even know how little he knows (See Dunning-Kruger Effect.).  I've helped a few biotech companies get started, but that in no way makes me an expert in research pathology.  So the next time some supposed expert starts giving an opinion, do what we do in court (or at least what we're supposed to do in court): Determine whether the opinion fits within the expert's field of expertise.  If it doesn't, you might as well be getting an opinion from the next person you meet on the street.  Or one of my cats.  Probably the brain-damaged one.

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