Nobel Prizes have been awarded to three economists for their theories on how financial markets work ("Economists Clash on Market Theory, Still Share Nobel," Oct. 15). But all such theories are wasted effort. The fundamental principle that markets are driven by deals struck between buyers and sellers is obsolete. Today's stock market is driven by gluttonous fat cats with computers who move thousands of shares in thousandths of a second.
Please send my Nobel medal to my home.
ROBERT L. WOLKE
First Published October 16, 2013 8:00 PM