Re: Reconciling \"Random Walk\" with \"Market Wizards\"
The point of the coin flipping example is that looking back in hindsight, six sigma traders are inevitable. I think this is ultimately how the two books reconcile somewhat. One could argue that Schwager is guilty of "data-snooping".
Don't get me wrong- I certainly wasn't making the case that the market is unbeatable. I think it is for the people with right skills, mindset, and work ethic. Fortunately for me, these people are pretty unusual. [img]/images/graemlins/wink.gif[/img]
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