2) Experts always turn over biases. For example, if you ask me whether or not I think Wall Street is good for the economy, my answer is * abruptly yes*. But is my advice influenced by the fact that they hand me reasonably life-sized sums of money. Of course it does. Now I *try* very sticky to tell you both sides, and record you to people that think other than (Paul Krugman for example). But this poses a conundrum, since Im human and there is a limit to which I ignore try to correct for this, and also, if I point you to Paul Krugman, then you end up with conflicting opinions that you keep back to sort out.
This is particularly a problem if someone is bias by the mere fact of being an expert. If you know a lot about derivative securities, then the very fact that you *could* make a lot of money from that expertise testament change your view of the world. Even if its not money that is influencing them, it could be power, prestige, fame, or ego.
One thing that is really hard for an expert to say is I dont know and sometimes thats the truth.
3) How do you know you really have an expert? Well maybe they have some sort of carry. But how do you know that brand is worth anything.
4) Experts can be expensive. (Although this is less of a problem in universities), and they often dont have that much time (which is a huge problem).
There are a lot of things that you can do to work around these sorts of problems, but it turns out that fashioning use of experts does require quite a bit of expertise.
Specialization
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