[OM] Re: Well OT, financial markets, was public service

[Andrew Fildes]

You may like the Gambler's Fallacy. :)
http://en.wikipedia.org/wiki/Gambler%27s_fallacy
Taleb's argument was that the analysts simply had no way of dealing  
with catastrophic events.
Stick to the dart-board funds.
Andrew Fildes
afildes@xxxxxxxxxxxxx



On 28/12/2007, at 6:21 PM, Chris Barker wrote:

> When I was reading Financial Strategy (B820, Open University 2005), it
> became clearer and clearer that studying companies' form was a bit of
> a cheat.  You were studying the financial performance (inter alia ;-))
> to see how the stock market would gamble against that performance, not
> whether it was intrinsically worth investing.  The whole thing is a
> double gamble, even before you reach derivatives and other arcane
> financial devices.



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