Earlier quoted context omitted.
seeking alpha is a sucker's bet. Surely this can't be right. If for the only reason that, if it were a sucker's bet, then most people wouldn't take it. Especially most 'informed/rational' actors. The vast majority of the players on Wall Street, we can assume, are informed and relatively rational. Yes, they may follow the herd - but that too is a rational exercise. If you are in a building and everybody is running for…
>If for the only reason that, if it were a sucker's bet, then most people wouldn't take it. The market can remain irrational for longer you can remain solvent.
Yes, but can it remain solvent for as long as everybody can remain solvent? i.e. everyone that makes these "sucker" bets? No. Liquidity will dry up, because there is a big chunk of the market that takes these bets.