Generally speaking, the more experience an expert has in a particular field, the more compensation they can command for their services. Specialists in a particular area with more experience are also usually granted a higher level of trust, respect, and responsibility from their peers.
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Some of the time, this special treatment isn’t warranted. Some studies have shown that the vast majority of so-called “expert” views are nothing but guesswork and more often than not the expert’s highly valued advice is wrong.
There is a continual debate in the field of finance whether or not it is worth paying a premium for financial advice from a more experienced...
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