[ExI] Greed + Incompetence + A Belief in Market Efficiency = Disaster

[Aleksei Riikonen]

On Thu, Jan 29, 2009 at 5:33 PM, BillK <pharos at gmail.com> wrote:
> GMO's quarterly update, by Jeremy Grantham has an enjoyable rant
> blaming believers in the efficient market theory for the economy
> crashing.
> <http://www.gmo.com/websitecontent/JGLetter_4Q08.pdf>

Thanks for this. Jeremy Grantham is a smart guy who often has good
comments, but I probably would have forgotten to read these particular
ones, had I not been reminded.

-- 
Aleksei Riikonen - http://www.iki.fi/aleksei