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Tuesday, December 13, 2005 12:00 AM

Betting on bird flu

A growing market allows investors to make money off of disease and natural disasters. And so far, their predictions have been dead-on.
By A.J. Daulerio

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  • Tuesday, December 13, 2005 05:57 AM

    All they're betting on is that someone else will bet on it as well

    This is classic autocorrelation. This is a derivative reference mark or index driven solely by the probability that other people agree with whatever the slight changes in direction are at any one moment in time. It's more or less the same mechanics that lead to the 1987 stock market crash and it is as equally flawed as a benchmark for reality or facts.

    —Stephen Rifkin

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