Montecfo
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Stock movements are not random. Stocks move generally higher over time as earnings grow.Easy. For the same reason that stock picking is pushed and that we have ubiquitous punditry. The purveyors of this nonsense have found that they can make money by pushing it.
It's a heavy lift to be sure (or at least it was for me) but once one realizes that randomness is an excellent first approximation to short-term market behavior, the reason for these pathologies becomes clear: No one can predict random.
Do we really need to cover this every single thread?