Conventional wisdom can be defined as ideas so ingrained in our belief system that they are accepted without challenge. Unfortunately, much of the conventional wisdom about investing is incorrect.
For example, the conventional wisdom that investors seeking high returns should invest in countries forecasted to produce high rates of economic growth—such as India and China—is simply wrong.
It certainly seems intuitively logical that if you could accurately forecast which countries would have high rates of economic growth, you would be able to exploit that knowledge and earn abnormal returns.
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