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I think it's clear they are more rational than efficient, and perfect at neither.
by valuearb 9y ago
I think it's clear they are more rational than efficient, and perfect at neither.
- Finnucane 9y agoMarkets != people, last I checked. If you're talking about the efficiency or rationality of a market, you're talking about some statistical measure of the market. If you're talking about one guy making a bad choice of flooring material, that's just one idiot.
- blazespin 9y agoWhat's good for markets isn't necessarily good for people. eg, Slavery was pretty efficient. Takes awhile for people to rise up and explain to the markets they're not as rational as they think they are.