John Tierney (and again this morning):
[...] Keeping up with a presidential campaign used to require at least an hour a day of wading through punditry, and much more time during the peak primary season. But now, with a few clicks on Intrade, you can see the accumulated expertise of thousands of people betting on the campaign. [...]
That’s what I mean by “Prediction markets are forecasting tools of convenience that feed on advanced indicators“.
I will have another post on John Tierney… if Barry Ritholtz delivers on his promise to write up on prediction markets.
