“If a betting game among a certain number of participants I played long enough, eventually one player will have all the money. If there is any skill involved, it will accelerate the process of concentrating all the stakes in a few hands. Something like this happens in the market. There is a persistent overall tendency for equity to flow from the many to the few. In the long run, the majority loses. The implication for the trader is that to win you have to act like the minority. If you bring normal human habits and tendencies to trading, you'll gravitate toward the majority and inevitably lose.” IfsHumansLongEnoughHandsHappensRunningCertainGamesWinningProcessLosesNumbersPlayerHabitInvolvedSkillsNormalFlowMajorityTendenciesMinoritiesStakesLong RunsTradingEquityPersistentImplicationsParticipantsConcentratingTradersAccelerateBetting Author:William Eckhardt
“At a minimum if we can just have enough distribution of clout in society so it isn't run by a tiny minority, then at the very least it gives us some room to breathe.” IfsGivingEnoughRunningRoomsBreatheTinyMinoritiesMinimumDistributionClout Author:Jaron Lanier
“We [on the left] have to be used to being a minority -- a small minority -- for some time to come. The odd thing is that the right, even when it is in power, likes to think of itself as an embattled minority against this elite that somehow runs everything. Whereas the left, even when it has no power at all, likes to imagine it somehow represents the majority of people. These are mirror-image delusions.” PeopleThinkingRunningUsedLeftImagineMirrorsMajorityLikesOddMinoritiesDelusionElitesOdd ThingsMirror Image Author:Barbara Ehrenreich