When I was working in funds management, many commentators had an aversion to saying “I don’t know”. There are thousands of companies on the stock market, and it’s very hard to form a considered opinion of a few (and impossible to have a considered opinion of them all).
But talk-back television would be quite dull if every response to a question was “I don’t know”.
This doesn’t just relate to the stock market mind you. For some reason we feel compelled to provide an opinion when asked – be it courtesy, wanting to appear knowledgeable, or maybe it’s just a social norm.
But there is great power in saying “I don’t know”. When you own the fact that you can’t provide useful information, it will actually remove the pressure you’re feeling. And when you do have useful information to provide, your response will carry more weight because you’ll be known as genuine.