The guru rule lives.
Not that there's much joy in this story for anyone. There isn't.
It's story way beyond the rise and decline of one person or the rest of the investors involved.
It's a story about people, efficient market theory be damned.
It's a story about how inefficient investors can become.
Choose whatever terms you like. Greed, fear, ignorance, faith, it's still the same.
It's a story about people being people. And it won't be the last one.
Call just about any large firm today and you'll get a robot. Some even tell you: "I can understand complete sentences. How can I help you?"
My response is almost always the same. "Let me talk to a human being? That's a complete sentence."
But those robots have to be programmed, just like Zaky and his investors.
Talk all you want about quants, black swans and technical indicators. Talk all the regulations you want. Behind every market it's still about people.
And that's not going to change anytime soon.
http://blogs.reuters.com/felix-salmon/2013/03/07/why-analysts-should-not-be-investors-andy-zaky-edition/
http://tech.fortune.cnn.com/2013/03/04/apple-zaky-bullish-cross/
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