RE: Choices1 Dec 2018 00:01
Longwait,
"In my opinion, the market is illogical and manipulated and, as Bernard Baruch observed, its purpose is to make fools of us."
That it's 'manipulated' is unarguable. But aren't so many things in life? Hey! I buy a cabbage from the market at the price the the stallholder asks. If the price has gone up the next Saturday and the vegetable-seller tells me it's because half his pickers fell ill because of rain, and he had to hire occasional labour, I'd try to believe he was telling the truth; and pay that bit more. So long as a couple of weeks later, after prolonged sunshine, the price reverted to what it was previously.
Somewhen, in a now dim and distant past (though probably within 'our' lifetimes), the stockmarket worked a bit like that.
But now it doesn't.
But I'm not sure it's 'illogical' though. It's simply that it no longer works to the supply/demand paradigm. And doesn't really work on a cash basis, because few are the people (other than poker players!!!!) who generally use cash. Money is just digitised electronic information, these days. Heck, the only times I see 100-euro notes is in the casino, and when it comes to cashout time I insist on 50's because petrol stations and most supermarkets won't accept 100's. And even then, I occasionally get some funny looks when paying for my diesel in cash with a couple of fifties! I reassure them that I've just printed them, but then they might struggle to find the change...
Of course, 'the market' is full of sharks trying to make a dishonest buck. A fool and his money are easily parted.
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