Recently, I've been reading a bunch of books trying to disprove my own belief that AI trading bots won't eventually take away all the edge in the market and leave no opportunities behind. I've always disagreed with the Efficient Market Hypothesis, much like Edward Thorp.
In one of the books I read,(The Migration of Scarcity)
A weather forecast does not change the weather, Edrin. A market forecast is part of the weather.
A forecast in such a market does not describe a state that exists independently of it. It selects among states, each of which would make it true. Forecasting becomes coordination.
I guess if I had to put the thing that made me disagree with the theory into words, this would be it.
Comments URL: https://news.ycombinator.com/item?id=50457952
Points: 2
# Comments: 2
