"The Fed can't hurt us because the market has corrected for another tightening," he said.

"We will wait until the market corrects itself," he said.

When the market eventually corrects its mistake, the investor takes his profit.

Floating exchange rates are considered more efficient, because the market will automatically correct the rate to reflect inflation and other economic forces.

An economist told me recently that he believed the next time the market corrected, many investors would get out and stay out.

Dealers expected the move was an overreaction to the election results and the market will correct itself.

"The concern that mutual fund holders would sell when the market corrected is not happening in our funds at all."

The early responses to the crisis were based upon the assumption that the free market would correct itself.

"But I'm not buying an apartment," she said, "until the market corrects."

Economic theories suggest that a free market would correct itself of rents.