mattnewport:

I'd speculate that bookies and professional sports bettors are doing something like this. [...] I've read a fair bit of material by professional investors and macro hedge fund managers describing their thinking and how they make investment decisions. I think they are often doing something similar.

Your knowledge about these trades seems to be much greater than mine, so I'll accept these examples. In the meantime, I have expounded my whole view of the topic in a reply to an excellent systematic list of questions posed by prase, and in those terms, this would indicate the existence of what I called the third type of exceptions under point (3). I still maintain that these are rare exceptions in the overall range of human judgments, though, and that my basic point holds for the overwhelming majority of human common-sense thinking.

Investors are understandably reluctant to share very specific time critical investment ideas for free but they frequently share their thought processes for free and talk in general terms about their approaches and my impression is that they are no more obfuscatory or deliberately misleading than anyone else who talks about their success in any field.

I don't think they're being deliberately misleading. I just think that the whole mechanism by which the public discourse on these topics comes into being inherently generates a nearly impenetrable confusion, which you can dispel to extract useful information only if you are already an expert in the first place. There are many specific reasons for this, but it all ultimately comes down to the stability of the weak EMH equilibrium.

This seems to be taking the ethos of the EMH a little far. I comfortably attribute a significant portion of my academic and career success to being more intelligent and a clearer thinker than most people. Anyone here who through a sense of false modesty believes otherwise is probably deluding themselves.

Oh, absolutely! But you're presumably estimating the rank of your abilities based on some significant accomplishments that most people would indeed find impossible to achieve. What I meant to say (even though I expressed it poorly) is that there is no easy and readily available way to excel at "rationality" in any really relevant matters. This in contrast to the attitude, sometimes seen among the people here, that you can learn about Bayesianism or whatever else and just by virtue of that set yourself apart from the masses in accuracy of thought. The EMH ethos is, in my opinion, a good intellectual antidote against such temptations of hubris.