The wisdom of bloggers

It's just come to my attention that the New Yorker have added another distinguished name to their growing roster of bloggers.

James Surowiecki, author of The Wisdom of Crowds, will be opining regularly at The Balance Sheet.

Surowiecki will not only be shedding light on the markets, he'll also be bringing them hope. At least that's what he promises in his first post:

My first Financial Page column for The New Yorker appeared in March of 2000, which just happened to be the month that the Nasdaq hit its all-time high and then started to plunge downward. In other words, the start of my column was an almost perfect contrarian indicator of the market’s performance. If the same is true this time around, then the start of this blog would be an excellent sign that we’re nearing a market bottom, and that we’re getting ready to bounce. I wouldn’t bet your house on it, but at least it’s pretty nice to think so.