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发帖数: 790 | 1 A trade is a bet on a price change, but there is a paradox. Each price
reflects the latest consensus of value of market participants. Putting on a
trade challenges that consensus. A buyer disagrees with the collective
wisdom by saying the market is underpriced. A seller disagrees with the
wisdom of the entire group, believing the market is overpriced. Both the
buyer and the seller expect the consensus to change, but meanwhile they defy
the market. That market includes some of the most brilliant minds and some
of the deepest pockets on Earth. Arguing with this group is dangerous
business, and it has to be done very cautiously. |
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