88 books
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10 voters
Trader
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As a group, traders’ net return will always be lower than investors by the amount of transaction cost, plus research expenses.
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Markets are not efficient enough to incorporate actual inherent risk, given information bias, and emotionally challenged participants. Instead, prices are adjusted up to the cumulative perceived risk of all participants.
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Kings and queens, princes and princesses, knights and archers, merchants and traders, villager…more
6 members,
last active 9 years ago
