“The whole edifice of modern financial theory is, as described earlier, founded on a few simplifying assumptions. It presumes that homo economicus is rational and self-interested. Wrong, suggests the experience of the irrational, mob-psychology bubble and burst of the 1990's. A further assumption: that price variations follow the bell curve. Wrong, suggests the by-now widely accepted research of me and many others since the 1960's.”
Benoît B. Mandelbrot, The (Mis)Behavior of Markets
There will be a gold options expiration on the Comex next week.
Stocks are once again bumping their heads on the prior highs.
Have a pleasant weekend.
Comments
Log in or sign up to join the conversation.