"I can state the core idea in two relatively simple propositions. One is that in situations that have thinking participants, the participants’ view of the world

"I can state the core idea in two relatively simple propositions. One is that in situations that have thinking participants, the participants’ view of the world is always partial and distorted. That is the principle of fallibility. The other is that these distorted views can influence the situation to which they relate because false views lead to inappropriate actions. That is the principle of reflexivity." Or: People don't know sh*t, but they can still buy/sell stocks, which then affects the price.