New column: The myth of the rational market
I've got an extended dance version of my column (three pages!) in the magazine this week. It's basically an extreeeemely condensed version of my book, which coincidentally is also called The Myth of the Rational Market. The print version of the article is really wonderfully laid out, and while the online version can't offer such beauty there is a super-exciting gallery of economists you can click through.
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1
Wouldn't you say that the last paragraph of the story is a bit of a leap of faith? I'm not sure it, um, rationally follows from the groundwork that you lay.
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2
"But when we give up second-guessing the market, we suspend our judgment. And without participants' exercising judgment--applying research, heeding a broker's opinion--markets stand no chance of ever getting prices right."
Hmm. No magical, mystical wisdom of the crowd?
- foxjust Thanks to Bama fans for reminding us we needed to buy TP! (Turns out we're fine on detergent). Oh, and nice game #ironbowl - 1 day ago
- foxjust 'Myth' is one of the NYT's 100 Notable Books of 2009. Not 'good' or 'best,' mind you. But notable http://bit.ly/4vO2kG - 1 day ago
- foxjust Now that the kind of incisive reporting we expect from the Gapperman! RT @johngapper The Haier factory in Qingdao is very big - 1 week ago
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