Since it is the actions of investors whose buy and sell decisions move prices up and down, any deviation from a random walk has ultimately to be traced back to the behavior of investors." - Meaning and context.">
QuotesCosmos
Chapter 4, Positive Feedbacks, p. 81
“

Since it is the actions of investors whose buy and sell decisions move prices up and down, any deviation from a random walk has ultimately to be traced back to the behavior of investors.

— Didier Sornette

What It Means

This is a placeholder explanation generated by the low-overhead model. It interprets "Since it is the actions of investors whose buy and sell decisions move prices up and down, any deviation from a random walk has ultimately to be traced back to the behavior of investors." in the context of "Chapter 4, Positive Feedbacks, p. 81" to mean that wisdom is timeless.

Source: Wikiquote: "Didier Sornette" (Quotes, Why Stock Markets Crash - Critical Events in Complex Systems (2003)) The 'What it means' explanation text was generated by Google Gemini Flash (accessed January 18, 2026). https://gemini.google.com/app

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#Didier Sornette#investors#ultimately#decisions#deviation#behavior#actions#prices#random#traced#since#whose
Didier Sornette

About Didier Sornette

Didier Sornette (born 25 June 1957) is Professor on the Chair of Entrepreneurial Risks at Swiss Federal Institute of Technology Zurich (ETH Zurich). He is also a professor of the Swiss Finance Institute, a professor associated with both the department of Physics and the department of Earth Sciences at ETH Zurich.