michaelkeenan comments on Procedural Knowledge Gaps - Less Wrong

126 Post author: Alicorn 08 February 2011 03:17AM

You are viewing a comment permalink. View the original post to see all comments and the full post content.

Comments (1477)

You are viewing a single comment's thread. Show more comments above.

Comment author: michaelkeenan 09 February 2011 01:59:29PM 0 points [-]

So - if I understand you correctly - you're saying we have a market with some actors who are buying at higher-than-justifiable prices, and the rest of the market lacks the liquidity to short-sell, adjusting the prices downward? That doesn't match my understanding of these things...but my lack of understanding of these things is part of why I delegate my decision-making to index funds, rather than trying to time or beat the market.