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Theory is an 'efficient' market model. Practice is not. Reminds me of the old joke: An Efficient Market Theorist sees a $100 lying on the ground, and passes
by kruhft 9y ago
Theory is an 'efficient' market model. Practice is not. Reminds me of the old joke:
An Efficient Market Theorist sees a $100 lying on the ground, and passes it by saying "If that existed, someone else would have picked it up by now!".
- FabHK 9y ago> An Efficient Market Theorist Milton Friedman, in the apocryphal story. And back in my days it was $20 :-)