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9/07/2005
Victor Niederhoffer on the Wisdom of Crowds

A recent post on James Surowiecki's book The Wisdom of Crowds appears. I've read this book and in my opinion it is completely meritless, misleading, deleterious and part of the doomsday and hate business. Part of the hope for collapse meme that is the hallmark of L#wis, Gl#dwell, and similar people described by Ayn Rand in her novels. Much better and less likely to lose money for the reader and make the crowd less unwise is Biderman's book on following the flow of large acquisitions and buybacks.

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