It's a common misconception that an efficient market must be a random walk — the actual condition is that it's driven to be a martingale, where the EV in the future is equal to the current value. This market is a classic example of such non-random walk martingale behavior.

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It's a common misconception that an efficient market must be a random walk — the actual condition is that it's driven to be a martingale, where the EV in the future is equal to the current value. This market is a classic example of such non-random walk martingale behavior.
时政
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10个月前由 Peter Schmidt-Nielsen 提交

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This is one of the coolest videos I’ve ever seen. Please enjoy it while it is still novel. Soon this will become as common and routine as a Falcon booster landing.
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Przeworski’s defense of a minimalist conception of democracy
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Seventy-five years ago today, NATO was created as a regional multilateral alliance for common defense against a common threat from the USSR.
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Seventy-five years ago today, NATO was created as a regional multilateral alliance for common defense against a common threat from the USSR.
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Wishing everyone a solemn and thoughtful Memorial Day.
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Tried in my Model S this morning
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