By Tom Bradley

We hear it all the time in conversation with our partners and friends: “They say the market is going higher … they say Regina house prices are going down next year … or they say the Canucks have a shot at the Cup.”

When you hear “they say”, it’s a signal that you need to ask some questions (if you’re at all interested in the topic):

• Who are they?
  
• Are they qualified?
  
• How easy/difficult is it to predict whatever they are predicting?
  
• What is the likelihood that they will be right?
  
• Is it an independent view, or do they have an axe to grind?

They may be one voice in the middle of a very complex debate. After all, if it’s a sure thing, the price would be where it’s predicted to be already. Certainly when it comes to stocks, Mr. Market makes sure everyone has a say, not just they. For every buyer (who has a positive view), there has to be a seller (who has found a reason to sell).

They may have been quoted in the paper because they were the only person the journalist could get a quote from (some of my best sound bites have come out of journalistic desperation).

They may also be talking in their best interest. Real estate is the worst for this. Most of the predictions for sales activity and house prices (inevitably positive) come from … you guessed it … the real estate industry.

In our household, Lori has stopped referring to they when discussing an article in the paper. She knows I get grouchy and combative, especially if they disagree with me!