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Evil Speculator (tm)
who wrote (
3/6/2007 10:22:32 AM
Fast market condition is a valid market state. No best price is necessarily available in that state whatever the perfection in compliance by all members. Thus, there exist conditions which can't be addressed by any rules. Indeed, it would be counter productive to have smoothing constraint rules because price discovery would be cut-off by them. Ignorance of price makes markets efficient(demonstrating the truth of this claim is worth at least a master's degree).
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