According to conventional theory, markets tend towards equilibrium, function without any discontinuity in the sequence of prices, and deviations occur in a random fashion. As a result, market risks can be equated with the risks confronting individual market participants.
这就引出了我的第三个判断：我们必须重新定义市场风险的内涵。根据传统理论，市场具有自我平衡的功能。价格的变化具有连续性，偏差的产生也是偶然的。只要市场的参与者控制好自身的风险，整个市场的风险就是可控的。监管者随之可以无为而治。