Tuesday, December 14, 2004

Looking at various investment strategies, I am extra-conscious of the irrationalities of finance and markets. Born Suckers seems to be the theme, with an entire emerging field of Behavioural Finance. All this seems similar to the "Gold Effect" noted by Thomas Gold some years ago. Namely how consensuses can emerge without anyone really producing evidence to substantiate that consensus. False Authority Syndrome also plays a part here. Depressing really.

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