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"Markets can remain irrational longer than you can remain solvent." Also if Tether implodes the exchanges you're using to short are also likely to implode or e

by api 7y ago

"Markets can remain irrational longer than you can remain solvent." Also if Tether implodes the exchanges you're using to short are also likely to implode or exit-scam (since they'll know the gig is up), and there is no recourse.

darawk 7y ago
> "Markets can remain irrational longer than you can remain solvent." That is absolutely correct. However, an equally correct statement is: Whenever you think the market is being irrational, you just don't understand the situation well enough. So, if you think you can read some blog posts and determine that a freely trading financial market is being irrational...well, it's not the market that is irrational.
- api 7y ago
  Your second point could only be true if markets were infinitely intelligent. https://arxiv.org/pdf/1002.2284.pdf https://arxiv.org/pdf/1002.2284.pdf
  - darawk 7y ago
    They're not infinitely intelligent. They're just almost always more intelligent than you (or me).