tkenyon

Why You Don't Need an Informational Advantage, Just an Emotional One

Tony - great comments - thanks! I will read the SA article today! You are correct that most of the academic tenants of market dynamics and economics are plain wrong since they do start with the belief that market participants act rationally. If the past few years (not to mention the late 90s) hasn't dispelled that notion permanently, I don't know what will. We hear that "markets are driven by fear and greed" constantly. I doubt you could many market participants who would disagree with that. Neither of those emotions are rational precursors to making economic decisions. There, I just disproved the EMT.