Wisdom about crowds

In its edition of April 23rd, The Economist went with an article that is interesting. It's called Wisdom about crowds.

I strongly recommand it. For if you get close to the stock market for a while, or Forex or any financial market. You will realize that it has nothing to do with the theory of random walk. You get to realize that it is all masse movement and crowds psychology.

So if you can understand crowds psychology and if you can model it to some extent. Then you have a edge over people on the Stock Market.

Strategically speaking this is a very interesting thought. I wonder if someone could take the scientists findings in The Economist article, and apply it to the stock market?

Food for thoughts.