gladwell

Enron, intelligence, and the perils of too much information.

More important than the influencers, the researchers found, were the influenced. Once an idea spread to a critical mass of easily influenced individuals, it took hold and continued to spread to other easily influenced individuals.

What the normal trader gets from his daily winnings is feedback, the pleasing illusion of progress. At Empirica, there is no feedback. "It's like you're playing the piano for ten years and you still can't play chopsticks," Spitznagel say, "and more...