Disliked{quote} {quote} I thought Mandelbrot essentially destroyed the idea that markets are random. Pretty much every failed modern financial theory, from Black-Scholes to MPT assumes a random market and normal distribution, and they're all laughably wrong; they all vastly underestimate the odds of large movements (both positive and negative). Besides analysis of markets themselves, if markets are random, the number of consistently successful traders in the world is a massive, massive statistical fluke beyond human comprehension. Beating the market for...Ignored
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