3 ms·
> where more than half of the capital in the market on a given day is controlled by somewhat sophisticated investors. It's worse than that! The average estimat
by kqr 3y ago
> where more than half of the capital in the market on a given day is controlled by somewhat sophisticated investors.
It's worse than that! The average estimation performs on the level of superforecasters, thanks to the wisdom of the crowd.
The priced-in evaluation beats even most sophisticated investors! ("How is that mathematically possible?" About half of the investors are on the lucky side, but not consistently.)