This book contains some truth, but much of it is wrong. One "proof" of the observation that women's skirt lengths are correlated with the business cycle being wrong is given as women in the financial sector wear pants.



Another doozy is the intentional misunderstanding of the maxim that you should heed advice of successful investors. The author says that skilled business students are not wealthy while in school and still may have good market observations.



Other proofs involve taking time periods much longer than that for which the rule of thumb is intended for.