User 269421

Is the Market an Accurate Pricing Mechanism? Paulson Doesn't Think So

I think we are in what George Soros calls a self-reinforcing downtrend. In a stable market, pricing is fair. But in the extremes of a self-reinforcing downtrend where there is no liquidity, the price is not reasonable and fair by any measure except that it is what the unstable market produces. If you want to call that accurate, then go ahead. But you need to distinguish between a stable market and the extremes of an unstable, self-reinforcing trend.