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Didier Sornette on Philosophy

born 1957 Switzerland

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According to the academic world view that markets are efficient, only the revelation of a dramatic piece of information can cause a crash, yet in reality even the most thorough post-mortem analyses are typically inconclusive as to what this piece of information might have been. For traders and investors, the fear of a crash is a perpetual source of stress, and the onset of the event itself always ruins the lives of some of them.

Why Stock Markets Crash - Critical Events in Complex Systems (2003)

Attribution

Quotes and notes from Wikiquote: Didier Sornette (page history), available under CC BY-SA 4.0.