Efficient market theory just goes down easier than - "We're all made of stardust kiddo."
What I mean by that is the random walk for why a market trades the way it does translates better to the general public than the market's energy is simply recycled. It's why Black/Scholles and the modern portfolio theorists received Nobel Prizes and Mandelbrot was criticized.
No worries - more power to those that would care to exploit what I know is represented in the markets each week.
Repetitive geometry.
Read Full Article »
