Do you remember my old friend, Mr. Irrational? He made a cameo appearance in Latticework series when we discussed Mean Reversion.
For the uninitiated, he is a figment of my imagination, inspired by Benjamin Graham’s Mr. Market.
One fine day, it so happened that Mr. Irrational was trying on suits in front of a shop’s three-sided mirror. The men’s tailor shop was owned by Sid and Harry. The younger brother, Harry, being less experienced, was sitting at the back of the room with all the design catalogues and price list.
Sid, elder brother and the chief tailor, who seemed to have hearing problems, was helping Mr. Irrational make a choice.
“How does this one look?” asked Mr. Irrational. He liked the dark grey colour but wasn’t sure about the woollen texture of the suit.
“Pardon me Sir. Can you please speak up little louder?” This was the third time that Sid had requested his patron to speak louder.
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