"The price is right", it reflects all information.
Here’s a challenge, from John Burbank, founder of hedge fund Passport Capital. He says:
"Price is all the information that exists in the market…it’s just what people think….price means nothing other than the equilibrium of liquidity…It doesn’t mean it’s good or bad, it’s just where people agree."
Is technical analysis based on a flawed assumption that completely invalidates it?
