LESSWRONG
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Use the Try Harder, Luke
mobile17y120
I don't believe in midichlorians.

I find your lack of faith ... disturbing.

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Belief in the Implied Invisible
mobile17y50

Or if you are going to be on that spaceship, are you worried that the Earth will blip out of existence on your journey?

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Buy Now Or Forever Hold Your Peace
mobile17y90

Don't blame me. I predicted Kang.

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The Affect Heuristic
mobile18y31

In fairness to analysts, if you are judging stocks that nobody is familiar with, or even worse, that nobody except for people who are complete morons are familiar with, then the risk-return relationship will break down. In general, judging whether an investment is fairly priced depends on your confidence in the judgement of the informed traders (which may include you, if the investment is familiar). The ordinary economic theory you cite does not apply when the market may become inefficient.

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