It probably tells us we are close to the top of the stock market.

http://www.fooledbyrandomness.com/notebook.htm

A fascinating read eg.

That evening I met Mandelbrot at dinner, a meeting which should remain one of the most important episodes in my life (I finally found someone to talk to about randomness). I continue with an excerpt from The Black Swan.

When I first met Mandelbrot I asked him why an established scientist like him who should have more valuable things to do with his life would take an interest in such vulgar topic as finance. I thought that finance and economics were just a place where one learned from various empirical phenomena and filled up one’s bank account with f*** you cash, before leaving for bigger and better things. Mandelbrot’s answer was: “data , a goldmine of data”. Indeed, everyone forgets that he started in economics before moving onto physics and the geometry of nature. [Chap 16]

I liked this recent comment on Mark Cubans’ blog

“I’m a big believer that whenever you do a business deal with people you don’t know, particularly buying and selling stocks, you always look for the sucker. If you don’t see the sucker, then you are the sucker.” where he is writing about hedge funds

http://www.blogmaverick.com/2007/06/21/hedge-fund-ipos-individual-investors-should-be-careful/