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DiggerUK

Wisdom Of The Crowd Experiment.

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There's a world of difference between the mathematical "wisdom of the crowd" where participants don't know what answers other people entered or have any other valid point of reference, compared with "herd instinct" which is what has been driving the gold price. If people see a line going up, their instinct is to see it continuing.

There's a terrific book by the recently departed Benoit Mandelbrot called "The Trouble With Markets" that I can heartily recommend. It's all about maths and the market, but doesn't bother with all that Elliot Wave junk.

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There's a world of difference between the mathematical "wisdom of the crowd" where participants don't know what answers other people entered or have any other valid point of reference, compared with "herd instinct" which is what has been driving the gold price. If people see a line going up, their instinct is to see it continuing......

On a recent thread, post 8, when I raised the issue of high prices that were being paid on EBay, endgame suggested that the reason for the high prices, was because bidders sometimes had no idea of the market prices, and just went with the most recent price that had been paid on the bay.

I thought it was a comment with merit.

Apparently Tantra has enough data, and will post soon.

As to your comment on Elliot Wave Theories, ....well, what can I say....some of my best friends are 'Wavistas', never considered how I would react if they moved in next door though !!!!

..._

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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