Here is one of the politer responses I've received from financial professionals to whom I've presented the Hurst theory:
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"In ancient times, man noticed that, while most stars rotated in unison around the earth, other stars wandered through the sky. (planet is the ancient Greek word for wanderer). Because the stars were thought to be fixed to a giant sphere that moved around the earth, it was assumed that these wanderers were also attached to spheres in some way. Originally they were attached to other spheres, with circular motions (epicycles) imposed on top of them. As more and more accurate observations were made, more and more epicycles (wave numbers?) were added to the system to make the system match the observations. Eventually there were more spheres, gears and circles than anyone could keep track of. But the system matched the observations.
To ask why the universe needed all this mechanism just to have points of light in the sky was heretical. The system matched the observations. If it didn't, small changes in the system could be made to accomodate the observations. (if a market low doesn't correspond to a cycle low, we must have missed a cycle, or we have discovered a new rule about the interaction of cycles).
Not until the question was asked, and a fundamental understanding of the reason why the lights moved the way they did, did science advance. And keep in mind, the first helocentric model of the solar system was less accurate than the Ptolemaic model it was attempting to supplant. Only when the circlular orbits were replaced with elliptical orbits (this, prior to a theory of gravitation which required elliptical orbits) did the helocentric model achieve accuracies better than the Ptolemaic model.
Humans are pattern-finding animals, even if the pattern only exists between their ears."
AI
