Saturday, January 2, 2021

Up the Markov tree

 Going up the 1,y,z branch we see that at the lime z/y must be three. The crowd at the Treasury bond market is safe at 3:1, we discover. The smallest business I can imagine has a 2.5 ratio. 

3 is the safe ratio, if maintained Our tendency is to skip a purchase three times more often then we add a purchase. We do three times as much window shopping as buying.

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