This new paper may explain the widespread belief in the value of Michael Mann’s methods and the ‘bet’ on the Hockey Stick

WUWT
"So why would I point out a paper on gambling as being relevant to the hockey stick? Because, the hockey stick was in fact a huge gamble on the part of “The Team”. They knew full well the science in it was shonky, but they hedged their bets with techniques (such as Mike’s Nature Trick) that gave a result that they felt sure would be “bought” by the scientific community at large. It was a good gamble at the time, but as Climategate has shown us, it may have been a winning hand with a one time jackpot, but they are losing the card game as the other players slowly realize they have a cheat in their midst."