Does anyone have any research on what I call the referral paradox. The ability of people myself included to belive that information increases in value if someone else tells it to you. Simply put is person A who I don't know tells me something about person B who I don't know. Why do I belive it? I mean basically it means absolutely nothing. Think of all the talking heads on Bloomberg and CNBC If you filter what they say 99.9% is irrelevant crap! In spite of knowing this, I find that humans seem to be very suseptable to this referral issue. If somebody says the dollar is going to go down then it will go down. It seems to me that the entire financial industry is based on this referral paradox?