Why investors lack a theory of

Markets have no fundamental laws, which is why they are so interesting

为什么投资者缺少一个万有理论

市场没有基本法则,这正是其有趣之处

Jun 4th 2025

2025年6月4日

If there was to be some cataclysm, and he could preserve just one sentence for future scientists, Richard Feynman would have made it about atoms. Tell them everything was made of tiny particles in constant motion, thought the great 20th-century physicist, attracting and repelling each other along the way. With a little imagination they could then uncover the rest. That was because the universe had a marvellous feature: though vast, it could be described by surprisingly few laws. Armed with the knowledge of atoms, Feynman reckoned his successors could work some of these out and then deduce far more.

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