Dismayed
Senior Member
@Dismayed , I think you are - in our modern society - on a wrong foot. @rebbiputzmaker is entitled to have his opinion and diffuse his opinion.
In fact, modern social science is built on the foundation that we’re all transactional agents, diffusing information when we transact in the market place. Transaction price is the key here. The market is one big information processor, more capable than any human. Modern social science has become information theory and science. In such a world there is no such thing as right or wrong as per expert judgment. Measurements become obsolete.
Do you see my point? @rebbiputzmaker simply exercises and reflects what’s become state of the art social science. The fact that Schiit sells lots of units at these price points is all the evidence we need in order to judge said company and products.
If you are old school - and not accustomed to modern society where experts are not needed anymore - you are out of tune, like a computer that needs firmware update to eradicate the glitch you represent in an orderly society.
PS: Though I was a bit amused when I wrote this text, it contains some food for thought. It shows what happens when a specific social theory after a while becomes normative behaviour in society.
LOL! So how did the Merck Vioxx recall happen? The VW diesel scandal? Dell computer battery fires? The Hasbro Easy Bake Oven recall? Takata Airbag recall? Impossible if markets are always right! I could go on . . .
I was educated in the hard sciences - chemistry (completed all coursework for a Ph.D. in Physical Chemistry, but didn't write a dissertation). And I have an MBA from U Chicago Booth School, so I'm fairly well versed in social science, too. So you're really arguing that markets are always right. The problem here is that you mis-understand Fama's efficient market hypothesis. Markets, in the strongest form of efficiency, accurately incorporate all public and private information. That would include all information, including expert opinions and measurements. Markets do not function properly in an information void.
Perhaps you should do a bit more reading.
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