Absence of critical thinking expressed in absence of revision of their stance with “stop losses.” Middlebrow traders do not like selling when it is “even better value.” They did not consider that perhaps their method of determining value is wrong, rather than the market failing to accommodate their measure of value. They may be right, but, perhaps, some allowance for the possibility of their methods being flawed was not made. For all his flaws, we will see that Soros seems rarely to examine an unfavorable outcome without testing his own framework of analysis.
