underscored

@underscored

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Tag:market-efficiencyClear

Economic markets are efficient ways of deciding fair prices, at least in ideal circumstances of perfect competition, information, and choice. But there is more to life than fair prices.

Sean Carroll
4w ago

Generative AI finds averages. Given the task of betting on stocks, they'll synthesise the average meatbag market participant, who trades too much and will react in inconsistent ways to identical information. A chatbot has no edge, durable or otherwise, because the average investor has no edge.

1mo ago

Underscored — save the words that stop you in your tracks.

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