Ben Cantrick (mackys) wrote,
Ben Cantrick
mackys

Efficient Market theory is bullshit and everyone knows it.


"Wild things happen in the markets. And the markets have not gotten more rational over the years. They've become more followed. But when people panic, when fear takes over, or when greed takes over, people react just as irrationally as they have in the past."

http://money.cnn.com/2008/04/11/news/newsmakers/varchaver_buffett.fortune/index.htm

That's not some pinko lefty hippy saying that, it's WARREN BUFFET. Anyone with a shred of intellectual honesty knows that the 95% of the stock market is a huge herd of mooing idiots, following whoever is blowing their own horn loudest today. Always has been, always will be. The idea that the stock market is an "efficient market" is bullshit. It's the worlds biggest game of follow the leader. Nothing more, nothing less.
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