“The market is the sum of countless independent agents acting out of blinkered self-interest. Nevertheless, the market does not dissolve into chaos, but is a coherent system which self-organizes around a common pursuit of profit. In this paper, the dynamics of that system are investigated. We find that global patterns emerge repeatedly which may be tracked and exploited.”
The Market as a Self-Organizing, Adaptive System • Gary Anderson
”Traders alternate between two modes. At times traders exhibit trend-following behavior. At other times. the reverse is true. This paper presents the market as a system of capital flows reducible to the effects of traders’ Janus-like behavior.”
The Janus Factor • Gary Anderson