They can be both. And irrational as well. Although not necessarily all at once. The markets are not one-dimensional. And then there is the matter of crowds...
Sorry, but that is flawed reasoning. If it were true, then all of the best and biggest traders would make the intricacies of their approach an open book. Please be sure to let me know when that happens.
Must have been useful, though, back in the day when he was dating and looking to get to second and third base. "Don't worry, I'm a doctor."
"and the man in the suit has just bought a new car, from the profit he's made off your dreams" - Steve Winwood
You have a tendency to say how much time you spent on something: "20 years on this, 30 years on that.." You value seniority rather than results. You would make an excellent union rep in the US.