More tourists *and* more expectation that EMH applies, which is self-undermining. And so learned unseeing, a la Mieville.
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Most of my travel is motivated, not by differences in endowments, but rather skepticism about universal EMH applicability.
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The assumption "data is universally shared" is suspect. Public data may not be understood. The cost to understanding is not in the model.
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It's a great hypothesis for things you're not interested in, a great anti-hypothesis for things you're working to make a difference in.
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The meta question is whether human capital is being used to pick up the dollar bills in a relatively efficient manner.
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Boosted my EMH skepticism, which in turn is yet another sign of EMH falsity, my beliefs should be closer to a random walk than they are.
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Right. If markets weren't inefficient it'd be real hard to run a business.
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one upside to being EMH indoctrinated: tougher to get caught in situations when "too good to be true" applies
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