The inefficient market theory is based on Soros' philosophical research. He believes that human cognition is not perfect and that all perceptions are flawed or distorted.
A common weakness of small and medium-sized retail investors is that they are able to hold to the bottom in bear markets but not to the top in bull markets. For example, in the previous bear market, a large proportion of stockholders got to a low of 998 points from a high of 2245 points.
