The Markets Were Wrong On Brexit, For Trump Too?

The Markets Were Wrong On Brexit, For Trump Too?

It is hard to beat the financial markets. They are the least bad aggregator and creator of information ever invented. They get it wrong all the time, of course, but almost always less so than any one individual or organisation, and massively less so than any variant of central planning. Hence the popularity of tracker funds and the crisis in which active investors, with a very small number of brilliant exceptions, find themselves. 

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