8/Therefore Efficient Market Hypothesis is correct if for "all information" you substitute "all information, theories, noise, and bullsh*t".Business Insider
In 9 Tweets, Marc Andreessen Explains How Bubbles Happen
Sam Ro
8/Therefore Efficient Market Hypothesis is correct if for "all information" you substitute "all information, theories, noise, and bullsh*t".Business Insider
3 comments:
Doesn't price action itself constitute a theory on future prospect? (ie: willingness to accept high p/e = belief that earnings will grow)
I'd say people "talking" about prices is a rather poor way to judge cyclical tops and bottoms.
Already happens: Capitalism destroys human labor force and goes to the next phase
http://failedevolution.blogspot.gr/2014/05/already-happens-capitalism-destroys.html
This is actually a positive sign that capitalism has done its job in eradicating scarcity so that the problem is now over-supply.
Se humanity can begin moving on to the post-dapitalist era of greater leisure and distributed prosperity.
It will be a difficult phase transition between states but it is coming.
The other positive sign is that the nation state is being superseded by transnational institutions. This will go a long way to eliminating hot wars, although the phase transition will involve other forms of conflict.
The major story of the phase transition will be the challenges present by climate change. This will call forth unprecedented innovation to meet those challenges.
Overall I am optimistic but the phase transition to a new era is going to be similar to the phase transition from feudalism to capitalism, In other words, rough.
Post a Comment