I just watched Mr. Myron Scholes being interviewed by Becky Quick on CNBC.
First off I would like to congratulate Becky Quick for conducting such an informative, non-sensational, and insightful interview. Keep up the good work; we need more of this from the media.
Secondly, Mr. Scholes finished his interview with an analogy. The analogy is true for many aspects of our market, be it the money printing in our economy, or the HFT dominance of the day to day action in the tape. I paraphrase: If you are driving down the highway at the speed limit, and everyone else is exceeding
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