Quote of the Month

By -

After seeing it mentioned many times in the comments section, I finally bought and started reading Fooled by Randomness, which I am enjoying tremendously. I just finished Section 1 of the book.

As I was reading it last night, a quote on page 126 just about knocked me off my feet (and would have, were it not for the fact I was reading it in bed). It is as follows:

A theory that does not present a set of conditions under which it would be considered wrong would be termed charlatanism – it would be impossible to reject otherwise. Why? Because the astrologist can always find a reason to fit the past event, by saying that Mars was probably in line but not too much so (likewise to me a trader who does not have a point that would make him change his mind is not a trader).

Can you imagine what two words instantly sprang to my mind? They rhyme with "Melliott Crave." Not to say that I've reached any kind of final conclusion personally, but I've got to say again, those words really resonated in a way that I bet a lot of readers here can understand.