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| Author: | Wien, B. Koenen, K. |
| Title: | Soros sizes up the markets |
| Journal: | Fortune
1995 : SEP, 4, VOL. 132:5, p. 62-65 |
| Index terms: | INVESTMENT CURRENCY MARKETS SPECULATION STOCK MARKETS |
| Language: | eng |
| Abstract: | Classical economic theory assumes that market participants act on the basis of perfect knowledge. That assumption is false. The participants cannot obtain perfect knowledge of the market and the market is affecting their thinking. Thus , financial markets are characterized by a discrepancy between the participants' perceptions and the actual state of affairs. At times it is negligible; at other times the course of events cannot be understood without taking it into account. |
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