Fantastic book. Bogle didn’t know about algorithmic information theory and so wasn’t able to express notions of simplicity as Kolmogorov complexity or randomness as Martin-Lof randomness, but it is clear he has come to an intuitive understanding of these very notions through experience in the market.
At some point someone should write a definitive formalisation of this thesis using the language of AIT.
— Dec 06, 2025 06:10PM
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