Here’s how to sound like an expert: Research tells us that prediction markets yield accurate forecasts. Indeed, a prediction market forecast is likely smarter than any expert. Simply point your browser to your favorite prediction market, and make the following observations confidently around the water cooler:
- Note that the American League looks much stronger than the National League. (HT: Mike Giberson at Midas Oracle.)
- Sigh, while you say that "Once again the American League race looks like being the Red Sox or the Yankees."
- State emphatically that "the National League is anyone’s race. Heck, even the come-from-behind Phillies are a chance." (Say this as though you didn’t already know they were the betting favorites)
That’s it. You are now an expert. (How else do you think an Aussie can keep up a conversation about U.S. sports? I’ve been faking it for years… but shhh, don’t tell David Stern.)