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Good point, although it's fair to say that it's given more weight than an undemonstrated hypothesis and many people who subscribe to it are unaware of how it might be wrong.
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The people who subscribe without understanding the risk, that's what's really wrong. When I got my finance degree the professoriate acted like it was Gospel.
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Man, it is in the name!
Hypothesis - an idea that is suggested as the possible explanation for something but has not yet been found to be true or correct