Markets Aren't Magic


At times like this, I’d just like to take a moment to remind us all that markets aren’t some mystical, magical thing. They were not handed down to us by the greatest minds of humanity. They were not bequeathed unto us by God.

Markets are people. And now algorithms made by people.

Markets do not require sacrifices, they don’t understand them. They don’t understand anything at all. They do move, but they are neither intelligent nor alive.

So markets don’t need anything from us. They ARE us, or at least an extension of our aggregate behavior, decisions, and beliefs.

They next time someone starts linking market behavior to observable public events, show them these graphs