Darwin and biological evolution provide a more accurate model for understanding markets than Newtonian physics, because markets are complex adaptive systems that evolve and change rather than moving toward an equilibrium point.
definitionpending
Speaker
Robert HagstromEvidence Quote
“markets are more biological nature than they are Newtonian physics nature”
Source
Warren Buffett Published His Whole Playbook | Robert Hagstrom on Why Only One Tenth of 1% Uses It— Excess ReturnsCreated: 8/12/2026, 6:12:15 PM
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