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> drawing pictures in clouds. Well phrased and it's how the stock market works, not only by technical analysts but everyone else playing: make a story in your
by karmakaze 2y ago
> drawing pictures in clouds.
Well phrased and it's how the stock market works, not only by technical analysts but everyone else playing: make a story in your head, place your bets, majority rules.
Some even believe that's how reality works in general. Sometimes belief or need could be a factor[0].
[0] https://www.guinnessworldrecords.com/news/2012/9/norwegian-family-set-lottery-win-world-record-45097 https://www.guinnessworldrecords.com/news/2012/9/norwegian-f...
- WalterBright 2y agoOn a more long term basis, the stock market reflects the business reality. But in the short term, it's chaos.
- karmakaze 2y agoThe former is a belief. It always reflects the imagined realities of those investing--we assume that business reality catches up with them, and it mostly does but not always within a predictable time frame.
- WalterBright 2y ago> The former is a belief It's based on the Law of Supply & Demand, which is always in play.
- gloosx 2y agoAlways in play for goods and services, but this is a crypto currency – it's supply is mathematically limited, and it's value is fully market-dependent – determined only by players on the market.
- wqaatwt 2y agoA huge short term influx of free capital can shape that longterm business reality. Of course both in positive and negative ways