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TopicStock Topic 37
red sox 777
06/16/22 2:47:57 PM
#137:


In any trade, both people have to believe that the thing they are receiving is more valuable. Ignoring risk aversion, liquidity issues, tax issues, etc. for a moment, in an intrinsic sense they can't both be right. So the game is to be right more than your counterparties. Well, if players in the game are acting in a way that psychology can predict, they're going to get "exploited." That's the nature of the game they're playing.

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