„Since in reality the stock market is inhabited by mere mortals, there is no way that the stock market can be efficient in the way that economists define the term.“

—  Steve Keen, Chapter 10, The Price Is Not Right, p. 216
Steve Keen27
Australian economist 1953

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„The stock market teaches you the hard way - it's all in the margin.“

—  Andy Kessler American writer 1958
Part IV, Intellectual Property, Publishing Chips in Taiwan, p. 135.

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„Stock market bubbles don't grow out of thin air. They have a solid basis in reality — but reality as distorted by a misconception.“

—  George Soros Hungarian-American business magnate, investor, and philanthropist 1930
Context: Stock market bubbles don't grow out of thin air. They have a solid basis in reality — but reality as distorted by a misconception. Under normal conditions misconceptions are self-correcting, and the markets tend toward some kind of equilibrium. Occasionally, a misconception is reinforced by a trend prevailing in reality, and that is when a boom-bust process gets under way. Eventually the gap between reality and its false interpretation becomes unsustainable, and the bubble bursts.

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David Orrell photo
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Anita Sarkeesian photo
Didier Sornette photo

„The price of a stock is strongly influenced by the behavior of the traders in a nontrivial way.“

—  Didier Sornette French scientist 1957
Chapter 6, Hierarchies, Complex Fractal Dimensions, And Log Periodicity, p. 183.

Mark Latham photo
Warren Farrell photo
Ian Bremmer photo

„It's not a third way between state capitalism and free markets, it is the free market way. Multi-national corporations should be the principal actors, but they should be properly regulated.“

—  Ian Bremmer American political scientist 1969
"The West Should Fear the Growth of State Capitalism," http://www.telegraph.co.uk/finance/economics/7883061/The-West-should-fear-the-growth-of-state-capitalism-Ian-Bremmer.html The Daily Telegraph (July 10, 2010).

Adair Turner, Baron Turner of Ecchinswell photo
John Kenneth Galbraith photo

„The market had reasserted itself as an impersonal force beyond the power of any person to control, and, while this is the way markets are supposed to be, it was horrible.“

—  John Kenneth Galbraith American economist and diplomat 1908 - 2006
Chapter VI https://openlibrary.org/books/OL25728842M/The_Great_Crash_1929, Things Become More Serious, Section II, p 111

Murray N. Rothbard photo