Sometimes I have a crazy intuition like “if people just categorically refused to work with anybody who seemed untrustworthy or “fake” or trying to take advantage, the world would be better.”
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Markets aggregate human local judgments. They work to the extent that those judgments have a tendency to correlate with what people value. That means somebody has to make the judgments!
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If a critical mass of people overrides their own opinions then markets will lack liquidity, just as a stock market comprising entirely index funds would not have any information in its price signals.
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