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Bethany McLean - Enron, FTX, 2008, Musk, Frauds, & Visionaries
Dwarkesh Podcast
The Efficient Market Hypothesis
Short sellers have a sort of corrective on irrational exuberance. The idea is that the market may be very efficient for a long period of time, but it does actually work in the end. I think believing that the market is efficient and rational in the short term is just obviously wrong. It requires a completely different mindset to have everybody in the world saying you're wrong to be losing money because the stock is going down.
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