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Readers reviews of Patterns in the Dark

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This book promises a lot but delivers surprisingly little. His key point is that global order arises from local randomness. While the market is difficult to understand on a day to day level as prices move up and down, it is more easily comprehended on a global level where the trend is evident. Traders know this as the conflict between daily and weekly charts.


The book does have an excellent discussion on the relationship between risk and uncertainty. Order comes out of randomness, and uncertainty is required for market efficiency and economic vitality. He shows how efficient market theory is flawed in its core assumptions and suggestions that uncertainty plays an important role in reducing volatility.


His discussion on page 21 of the way complexity ensures that the system never settles down to a stable equilibrium value even when everybody knows the winning answer in a guessing game is a good example of the conditions the Guppy MMA is designed to track.


Part two expands the conclusions of parts 1 and drags them onto the international and global stage. His understanding of what happens in other countries is not authoritative. This is generalised discussion that can be easily found in any weekend newspaper supplement. It says little that is new, and apart from championing the American way, is not particularly useful.


Part 1 has some interesting ideas, but it is up to the reader to assemble them in a way that is useful for trading or investing.



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