A Quote by Seth Klarman

I think markets will never be efficient because of human nature. — © Seth Klarman
I think markets will never be efficient because of human nature.
The efficient market theory is one of the better models in the sense that it can be taken as true for every purpose I can think of. For investment purposes, there are very few investors that shouldn't behave as if markets are totally efficient.
Capitalism has taught us that markets are always more efficient than hierarchical managerial coordination. But in a situation where those three conditions aren't met, I can't outsource or partner with you because markets don't function in the absence of sufficient information.
The thing about markets, and I think the thing people don't understand about that, is markets are not kind, but they're very efficient. So when the marketplace determines an inefficiency in the system, it corrects that, and a market system that's left alone will reward good behavior and punish bad behavior.
I think it's human nature that if we don't have our own family, we will create a family, because it's human nature, and it's that element of trust and dependency and love and all of those sort of things.
I want a Mini-Cooper because it's fuel efficient, emissions efficient and all that stuff. It's small and better for the environment. I think that will be my next car.
In certain circumstances, financial markets can affect the so-called fundamentals which they are supposed to reflect. When that happens, markets enter into a state of dynamic disequilibrium and behave quite differently from what would be considered normal by the theory of efficient markets. Such boom/bust sequences do not arise very often, but when they do, they can be very disruptive, exactly because they affect the fundamentals of the economy.
Never follow anybody else`s idea - that is very dangerous because you will become imitative. Always follow your own nature, self-nature; only then will you attain to freedom. It is better to die following one`s nature than to live following somebody`s else`s nature, because that will be a pseudo life. To die following one`s nature is beautiful, because that death too will be authentic.
Markets do not run better when manufacturing shifts to China largely because of the actions of its government. Nor do they become more efficient when Chinese companies are given special privileges in global markets, while American companies must struggle to compete with unfairly traded goods.
There is unquestionably a contradiction between an efficient technological machine and the flowering of human nature, of the human personality.
In the creation of a garden, the architect invites the partnership of the Kingdom of Nature. In a beautiful garden the majesty of nature is ever present, but it is nature reduced to human proportions and thus transformed into the most efficient haven against the aggressiveness of contemporary life.
It's human nature to not say everything that's on your mind at the time you think it. Because we fear saying something that people will laugh at, people will think is dumb. We're afraid of being embarrassed.
And when you, O human, will return to Nature, that day your eyes will open, you will stare straight into the eyes of Nature and in its mirror you will see your image. You will knowthat when you hid from Nature, you hid from yourselfWe who have been turned away from Nature - if we desire life, we must establish a new relationship with Nature.
It’s natural to die. The fact that we make such a big hullabaloo over it is all because we don’t see ourselves as part of nature. We think because we’re human we’re something above nature.
Neoclassical economics ... has uncovered important truths about the nature of money and markets because its fundamental model of rational self-interested human behavior is correct about 80% of the time.
You are imagining that there is something called human nature which will be outraged by what we do and will turn against us. But we create human nature. Men are infinitely malleable.
Technology business increasingly becomes difficult to predict because technology itself is accelerating in change, and human nature and markets are more stagnant and static. But the dynamic engine of technological innovation continues unabated.
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