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(15 points) Using the Grossman-Stiglitz paradox, explain (in fewer than three lines) what is misleading in the following quote from Paul Samuelson: A respect for

(15 points) Using the Grossman-Stiglitz paradox, explain (in fewer than three lines) what is misleading in the following quote from Paul Samuelson: A respect for the evidence compels me to incline toward the hypothesis that most portfolio decision makers should go out of businesstake up plumbing, teach Greek, []

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