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But there is a thriving industry of spotting patterns which other people haven't yet thought of. And IIRC there is some evidence that even after these patterns
by dash2 5y ago
But there is a thriving industry of spotting patterns which other people haven't yet thought of. And IIRC there is some evidence that even after these patterns are discovered in the academic literature, they persist for a while, just with lowered returns. The logic of what you're saying is true in principle, but in practice markets are not quite so perfect.
- drfxyjhdyfrhgc 5y agoIt wasn't my intention to give the impression that markets are totally efficient, just that the forces at play tilt the system toward increasingly random behavior. I was responding to the proposition that markets are considered random because "TradFi economics has decided it must be".