Can't disagree, V-man, if you equate my "market" = your "houses."
There is no doubt that the market acts in concert, especially when we see mass buying or selling all at the same time, at the same level, as happens with melt-up/downs. It is similar to the way that a thousand sheep weighing half a ton can be brought into a corral by a 50 pound dog barking at the right time and with the appropriate volume (now I am really out of my element). Where we may disagree is that I believe even this happens randomly, in a chaotic way, rather than in an organized, coherent, planned way.
I don't know just how much manipulation can take place, in the long run, in a 7+ trillion-dollar world economy. Granted, the markets move at the margin, and it doesn't take much to create large market movements, but I'm skeptical about manipulated, concerted, long-term efforts by houses to accumulate shares ahead of large runs. This can be done on individual stocks, especially those with small floats, for short periods of time, but if houses have that kind of power to move world markets over the long run, I'm buying shares in ML, NITE, etc :-)
Having said that, I do agree that the "houses" will do whatever they can to make money at the expense of the little guy, as that is their business. They could give a hoot about the economy, or prosperity, or anything but the bottom line, as well they should. We, OTOH, need to understand that nothing in this world is guaranteed, but those who have bet on the American economy for the long term are the historical winners, and not many who have bet against the American economy for the long term have won. |
