"The markets can stay irrational longer than you can stay solvent."

· Bits and Bobs 8/4/25
  • "The markets can stay irrational longer than you can stay solvent."
    • Bill Janeway added: "...and therefore you're compelled to act irrationally."
    • If you don't act irrationally in an irrational market you'll be knocked out of the game.
    • Similar to kayfabe in an organization.