- In February 2001, Fortune magazine named ENRON the “most innovative company”.

- In October 2007, Robin Hanson, on the Overcoming Bias blog, re-published the falsehood that James Surowiecki (and 3 other book authors in their respective book) made a mistake about Francis Galton in his book, The Wisdom Of Crowds.

- In January 2008, the “BetFair Prof” (Leighton Vaughan-Williams) claimed, on the BetFair blog, that the “betting markets” foresaw the Republican race in the Michigan primary.

- In January 2008, Risk magazine named SOCIETE GENERALE (recently busted by one of its traders, which lead to a loss of 7.2 billion dollars) the “equity derivatives house of the year”.

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TAKEAWAY: Either by complete incompetence or by lack of investigation means, journalism is not up to its lofty goal —telling the truth to people.

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(Via Marc Andreessen.)

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Jerome Kerviel, soon to be named “person of the year” by Risk magazine?

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Sources: New York Times via Bloomberg