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← Complex adaptive systems are the best way to think about markets: hard to beat, yet periodically haywire
17 connected korrents · 18 moments from 9 Feb 2018 to 14 Sept 2026.
Everything filed under market efficiency
market efficiency
Everything filed under investing
investing
Everything filed under AGI
AGI
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simplicity
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SaaS
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LLMs
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education Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Read this korrent: Complex adaptive systems are the best way to think about markets: hard to beat, yet periodically haywire Complex adaptive systems are the best way to think about markets: hard to beat, yet periodically haywire Last stated 4 years ago
3 Mar 2023
MM
Michael Mauboussin — holds since 2023-03-03 — tap for who they are
Same subject: Adapting over time is a workable answer to humans misusing AI and no answer at all to losing control of systems smarter than us. — tap to centre the map on it Adapting over time is a workable answer to humans misusing AI and no answer at all to losing control of systems smarter than us. Last stated 2 years ago
5 Apr 2025
HT
Helen Toner — holds since 2025-04-05 — tap for who they are
Same subject: Good products, like good explanations, are hard to vary. — tap to centre the map on it Good products, like good explanations, are hard to vary. Last stated a year ago
29 Sept 2025
NR
Naval Ravikant — holds since 2025-09-29 — tap for who they are
Same subject: The cheapest way to deal with complexity is not to invent something to manage it but to avoid it with a cleverer plan. — tap to centre the map on it The cheapest way to deal with complexity is not to invent something to manage it but to avoid it with a cleverer plan. Last stated 9 years ago
9 Feb 2018
FC
Frank Chimero — holds since 2018-02-09 — tap for who they are
Same subject: Systematising principled decision-making with AI is now the line between staying competitive and not; there is no position in between. — tap to centre the map on it Systematising principled decision-making with AI is now the line between staying competitive and not; there is no position in between. Last stated 4 months ago
10 Jun 2026
RD
Ray Dalio — holds since 2026-06-10 — tap for who they are
Same subject: Technology has made markets less efficient at long horizons rather than more efficient. — tap to centre the map on it Technology has made markets less efficient at long horizons rather than more efficient. Last stated 2 years ago
3 Sept 2024
CA
Cliff Asness — holds since 2024-09-03 — tap for who they are
Same subject: It is still early in AI go-to-market: the markets have not hardened and the good tools do not exist yet. — tap to centre the map on it It is still early in AI go-to-market: the markets have not hardened and the good tools do not exist yet. Last stated 10 months ago
1 Jan 2026
JL
Jason Lemkin — holds since 2026-01-01 — tap for who they are
Same subject: The best-performing AI model in a category earns outsized pricing power over models that are merely close to it. — tap to centre the map on it The best-performing AI model in a category earns outsized pricing power over models that are merely close to it. Last stated a month ago
14 Sept 2026
BH
Byrne Hobart — holds since 2026-09-14 — tap for who they are
Same subject: It would be dangerous for a few people from industry to set the rules for AI, because market forces are not societal norms. — tap to centre the map on it It would be dangerous for a few people from industry to set the rules for AI, because market forces are not societal norms. Last stated 2 months ago
10 Aug 2026
FL
Fei-Fei Li — holds since 2026-08-10 — tap for who they are
Same subject: By the time an opportunity is widely known and talked about, it's too late to capitalize on it. — tap to centre the map on it By the time an opportunity is widely known and talked about, it's too late to capitalize on it. Last stated 9 months ago
13 Jan 2026
TY
Tynan — holds since 2026-01-13 — tap for who they are
Same subject: Even the most advanced AI cannot be followed blindly in investing, where value added is zero-sum and what is widely known is therefore worth little. — tap to centre the map on it Even the most advanced AI cannot be followed blindly in investing, where value added is zero-sum and what is widely known is therefore worth little. Last stated 4 months ago
10 Jun 2026
RD
Ray Dalio — holds since 2026-06-10 — tap for who they are
Same subject: Market bubbles and crashes are inevitable but impossible to predict in advance. — tap to centre the map on it Market bubbles and crashes are inevitable but impossible to predict in advance. Last stated 3 months ago
30 Jul 2026
JC
JL Collins — holds since 2026-07-30 — tap for who they are
Same subject: The claim that passive investing has made markets less efficient is overwrought. — tap to centre the map on it The claim that passive investing has made markets less efficient is overwrought. Last stated 4 months ago
18 Jun 2026
AD
Aswath Damodaran — holds since 2026-06-18 — tap for who they are
Same subject: The pull of fundamentals that used to reverse market momentum has weakened, so betting on mean reversion is more dangerous than it was. — tap to centre the map on it The pull of fundamentals that used to reverse market momentum has weakened, so betting on mean reversion is more dangerous than it was. Last stated 2 months ago
2 Sept 2026
AD
Aswath Damodaran — holds since 2026-09-02 — tap for who they are
Same subject: A company that deviates from open standards in its data exports without documenting the deviation creates an artificial vendor lock-in. — tap to centre the map on it A company that deviates from open standards in its data exports without documenting the deviation creates an artificial vendor lock-in. Last stated 2 years ago
3 Mar 2025
TS
Tobias Sjösten — holds since 2025-03-03 — tap for who they are
Same subject: Almost no mutual fund earns the fees it charges, so most investors are better off buying an index fund. — tap to centre the map on it Almost no mutual fund earns the fees it charges, so most investors are better off buying an index fund. Last stated 3 years ago
20 Feb 2024
BA
Bill Ackman — holds since 2024-02-20 — tap for who they are
Same subject: An investor's starting point should be the portfolio that is best to hold independent of any tactical market view — tap to centre the map on it An investor's starting point should be the portfolio that is best to hold independent of any tactical market view Last stated 2 months ago
25 Aug 2026
RD
Ray Dalio — holds since 2026-02-19 — tap for who they are
NM
Nick Maggiulli — holds since 2026-08-25 — tap for who they are
Same subject: At a market price-earnings ratio of twenty-three there is little upside and a long way to fall, where at fifteen there would be much less risk. — tap to centre the map on it At a market price-earnings ratio of twenty-three there is little upside and a long way to fall, where at fifteen there would be much less risk. Last stated a year ago
16 Jul 2025
JD
Jamie Dimon — holds since 2025-07-16 — tap for who they are