Is the above price chart for the above asset truly indicative of its status as one the worst assets to own at the present time, as claimed by mainstream financial analysts? Or could it be just the opposite, and one of the absolute best assets to own right now?
And these are the major qeustions we have always pondered as investors, since the start of global markets. Is the majority consensus opinion or that of the minority rabblerousers the correct one? As we all know, contrarian investing is investing based upon a belief that the majority of investors are wrong and the opposition narrative to mainstream analysts is correct. However, as I have recently explained in regard to non-financial narratives, often using institutions like religion, education or medicine to explain why mainstream narratives are so frequently and systematically incorrect, contrarian beliefs are not based upon blind faith that the majority is wrong with zero basis, but instead are grounded in intellectual, non-emotional and high probability conclusions. If you keep reading, I will reveal the identity of the above asset later in this article and provide a contrarian argument to the one provided by mainstream analysts at the current time.
Furthermore, though many people make illogical arguments rooted simply in the longevity of a belief standing the test of time and falsely equate longevity with credibility, I have exposed the length of time a belief has persisted as irrelevant to the likelihood of that belief being false or true on numerous occasions, especially when a belief is rigourously and properly tested within a proper factual framework of analysis devoid of strong emotion. As all of you know, I have always stated, Show me an emotionally driven investor and I will show you an investor with a perpetually losing track record.
A truth that has persisted even just for one minute will still always be more truthful than a lie that has persisted for more than century.
For example, there has been a massive lie that has persisted in academic scientific classrooms for more than a century and online, since the invention of the internet, and still vehemently argued by recent university graduates as fact though it’s very easily dismissed as a lie. And that is the definition of gravity. In trying to enlighten a recent university graduate with whom I found myself pulled into a discussion in which he tried to convince me that religion was responsible for all the evils of this world, after I discovered that he graduated with an engineering major, I started asking him to define some fairly basic scientific concepts to learn if he had been taught lies in his university education. The objective of doing so was to discover if I could uncover a false belief he held regarding a concept in which he ascribed his belief to be impregnable in order t redirect the basis of his arguments away from emotion and reground them in the far more objective reality of what can be proven and what cannot be proven,
It took me all of five minutes to discover that his belief about gravity was one that had been proven incorrect for more than a hundred years now. When I asked this young man to define gravity, he told me that gravity was a force of acceleration with a constant of 9.81 meters per square second. Even though technically, his definition of the force of acceleration, a consequence of gravity but not the definition of gravity itself, was incorrect, I decided to take a different approach then revealing that even his definition of the force of acceleration was incorrect. (For those that want to know why it’s incorrect, acceleration is not a constant force of 9.81 meters per square second with zero variance at every location on Earth as there are minute variances in this number based upon the density of the earth’s atmosphere at higher altitudes as well as in equatorial regions due to a phenomenon known as equatorial bulge.) However, to expose he had been incorrectly instructed about gravity in his university, I merely responded by asking him if curvature is a concept of force. At first, he didn’t answer for a few seconds before merely responding that Newton already had confirmed that gravity was a force of acceleration in the 1680s, so this proved that I was talking gibberish.
What this young man didn’t understand was that his professor in university conflated gravity with the gravitational force, or the force of acceleration, which are two distinctly separate concepts, and because his professor explained them as the same, he had embraced an incorrect belief about gravity passed on to him by his professor. Consequently, I trolled this young man by asking him if he had ever heard of a scientist named Albert Einstein? Of course, after he answered, yes, I then asked him if he was familiar with Einstein’s Theory of General Relativity. In response, he scoffed that he did, but I explained that evidently he was not, as Einstein proposed what Newton never had, a theory that defined gravity, in his Theory of General Relativity. I proceeded to explain to this young man that Albert Einstein, in his Theory of General Relativity, explained his theory that gravity was not a force, but instead, a curvature in the fabric of space-time, in which mass instructs spacetime how to curve and spacetime instructs mass how to move.
However, even after my explanation of why his definition of gravity was completely wrong and why Einstein’s explanation of gravity is still the best proposed theory of gravity today, more than a century after he proposed it in 1915, this man essentially claimed that he was smarter than Einstein by insisting that his definition of gravity was incorrect and my forwarded explanation of gravity, as posited by Einstein in 1915, was incorrect, because if gravity were not a force, than the calculations he made in his structural engineering job would have led to the collapse of structures his firm built.
In other words, people because of narcissism, and nothing else, stay committed to lies rather to concede being wrong in an argument. Though he never argued Einstein’s proposed theory of gravity was wrong, it was quite clear that this young man would not concede being incorrect as he even Googled “What is gravity?” on his smartphone and showed me an article that stated gravity was a “force” (and again, just another reason to never blindly trust answers given by the US Defense Department and US military seeded Google search engine).
Why Revelation of Truth Today is Simply Not Good Enough to Convince People of the Truth
The point of this above anecdotal tale is to reveal why we so often deny truth even when confronted with undeniable truth. The fact that Einstein posited gravity was not a force more than 100 years ago and the fact that no gravitational scientist since then has been able to disprove Einstein’s definition of gravity was still insufficient proof in this young man’s mind that he was wrong. Instead, he went on the attack and called me ignorant for not understanding why gravity is a force, a “truth” only in his own mind, as even Google’s search results confirmed his understanding of gravity as correct.
Often, for the sake of avoiding an appearance of foolishness, we deny truth if we are presented truth in front of hundreds or thousands of people. This is simply a coping mechanism of “saving face” when our false beliefs are exposed. However, I found it truly interesting, that in a conversation among just three of us (a friend of the young man’s was also present), that this young man was determined to prove his lie correct and to prove Einstein incorrect.
The point of opening this article with this story is to provide a warning of the arrogance that exists in all of us to deny truth even when presented with it. There is no doubt in my mind that the Ruling Class’s goal of creating the most narcissistic people in history, achieved through their feedback loops of likes and followers on social media platforms and removal of the service principle embedded in religion, has been directly responsible for our growing inability to accept truth when presented with it, even when acceptance of presented truth is clearly in our best interests. In the case of the young man, whether or not he ever accepts the truth about gravity will likely not cause any great shift in his quality of life, but as I’ll explain below, we all encounter plenty of instances in which denial of truth will create a significantly worse quality of life for us. Unforrtunately, this repeated, not outlier behavior, among the masses only reinforces the incredibly effective job authoritative Gatekeepers of the Ruling Class have achieved in keeping the majority of us beholden to their lies.
The presentation of truth is very often incapable of convincing people with alternate beliefs of the truth not because of logical fallacies that compromise the presented truth, but because of the Ruling Class’s indomitable mission to make all of us assign a God-like infallibility to anything we have been commanded to believe, relayed to us by people Gatekeepers have assigned to positions of authority, whether in institutions of academia, finance, healthcare, or politics. Unfortunately, within this vacuum of critical thinking in which we now live, Generation Alphas, Zs and Millennials also incredulously now seek out social media influencers as sources of news, information and truth in world replete with lies.