The markets are full of idiots

Blain’s Morning Porridge/Bill Blain/12-30-2022

“Financial markets are largely driven by idiots, shysters, charlatans and fools? I suspect the final one contains a sizable element of truth. Markets are just enormous voting machines calculating the opinion of every participant, therefore no single ‘idiot’ can drive them.. but they can certainly influence how the other participants vote.”

USAGOLD note: Blain features a photo composite that includes Musk, Bezos, Zuckerberg, and Gates, then advises: “It’s a false assumption to think people in positions of power know what they are doing or understand what they are saying. 2022 has been an extraordinary year for seeing our idols exposed as mere craven images.”