“Intuitive counselors” taking investors for a gullible ride

Even really smart people fall prey to wishful thinking and flowery third-party advice when they feel out of control. Economic uncertainty has resulted in a psychic boom. Same as it ever was…

Source: Psychic readings: How executives are making a fortune through psychics – Fortune

It’s well known that successful professionals have a coterie of advisers – investment advisers, leadership coaches, personal trainers – but for a small, but growing number, that network also includes so-called intuitive counselors and spiritual advisers – more commonly known as psychics. […]

“I think people would be astounded at the amount of entrepreneurs that consult people like me,” says astrologer Robert Ohotto, whose clients include high-level executives at Google . “Any entrepreneur that has been hugely successful either has a very well developed intuition of their own, or consults people who do.”

In fact, despite a few cases in which psychics were sued or prosecuted for alleged fraud, overall the psychic services industry is thriving; it has grown 2.2% from 2009 to 2014 and is projected to grow another 3% in the next four years, according to research firm IBIS World. The $1.9 billion-revenue industry consists of astrology, mediumship, palmistry and numerology, among other services.

Few cases of psychic fraud? It can be argued that ALL cases of psychics that have been investigated have been deemed fraud. Just click here and find FAR more than a “few”, and that’s just a selection from 4 years. Houdini was actively uncovering psychic fraud almost a hundred years ago and we are STILL doing it today. No psychic has EVER demonstrated that their “powers” were genuine. No astrologer had shown they do ANYTHING special. They come up with nifty excuses of how their powers prevent them from winning the lottery or scoring in the stock market. They rely on gullible people to plumb up their bank accounts.

As we have noted with psychic “life coaches”, people seem to desire that set of outside eyes as perspective. It involves no paranormal powers, just some common sense and a magnetic personality. It’s clear that these executives are looking for guidance or reinforcement. We don’t seem to hear too much about the times the so-called psychics were dead wrong. Of course, they will trot out another of their endless, diverting excuses.

Fortune exhibits poor form with this gullible and ridiculous piece.

  1 comment for ““Intuitive counselors” taking investors for a gullible ride

  1. September 22, 2015 at 10:20 PM

    And meanwhile, the requirements for licensure for people with advanced (master’s) degree in psychology make it virtually impossible for us to go into business for ourselves.

    You’re right, “life coaching” or any kind of “life advice” does not require any paranormal ability – just an ability to listen, put the client first, and have knowledge of resources that the client can use to further his/her career or ambitions.

    Pfft. These psychics make me ill.

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