Hot take: I believe in the Efficient Market Hypothesis. Except most market participants are literally retarded.
Discussion
Efficiently* retarded
true, but should sort itself in the long term after all the retarded people lose their money?
Case and point:
a. Almost all rate hike futures bets made by the ‘smart money’ bond market have been wrong for 2 straight years
b. Bitcoin isn’t $500 billion a coin
Can’t exist in tandem with central banking.
