I feel the same cynicism. But then I remember cynicism !== intelligence. I'm trying to actively cut down on my news, while keeping a few channels open (HN/geopolitics/basketball..), in order to become less of a cynic..
Generally I would agree, but what if your cynicism limits you from taking that one high risk opportunity that could make a serious impact on your financial future? I mean we're all start up junkies here (for the most part) would that not be considered a high risk activity that would be avoided by any serious cynic?
I would also make the argument that the majority of the population (myself included) would not benefit from participating in economic activities requiring cynicism. I think financial literacy for most people is a 'learn it yourself' affair that most people choose not to do, and therefore they should avoid the financial world like the plague.
Be as naive as you want in the cushy world of low risk, low yield, investments. Happier lifestyle I'd wager.
Are the tables rigged or not? Going in as an optimist into a scam will surely be a bad thing.
Living in China, I've learned to appreciate fair financial systems. Many investments I wouldn't have considered in the states before now look like really good deals, simply because they are much more "fair" than what is available to me in China.
China has no low risk/low yield investments beyond long term savings accounts that don't even beat inflation. That is why so much money was rushing into the stock market, and now again, real estate. Because literally there isn't anything else (ok, maybe some undergound banking deals, but do you want to deal with the mafia?).
When your future economic well being depends on reading tea leaves, you better be reading tea leaves (pay attention to the news). You can't just put your head in the sand.
