In my latest post at Pieria, I complain about trading strategists who don't do their homework:
"There is considerable debate about whether markets are efficient, and whether investors are rational. To me it is self-evident that investors at times are anything but rational and markets at times are anything but efficient, but I will leave the economists to argue about that. If anyone really wants to know more about the limitations of the efficient markets hypothesis, read this post by Euronomist. And for more on whether or not human beings really are rational utility maximisers - as is implied by the rational expectations hypothesis - read this post by John Aziz.
When it comes to monetary policy, though, all too often we are not dealing with inefficiency or irrationalilty, but simple ignorance....."
The rest of the post can be found here.