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Strategies & Market Trends : The Residential Real Estate Post-Crash Index-Moderated
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From: S. maltophilia5/21/2022 2:15:06 PM
   of 119360
 
.....To reiterate: These are wholly imaginary thresholds that we’ve applied to what, at the end of the day, are just certificates of ownership in fictitious entities assembled for the purpose of generating intrinsically worthless fiat scrip. Exactly none of this is real.Our species organizes around an interconnected system of shared myths which imbue our daily lives with meaning. Hajric and Wang described bull markets’ “near-death experiences” as “weirdly common,” but there’s nothing weird about it, unless you count the inherent weirdness of the myths we share, the peculiarity of which is never apparent until they’re supplanted by a new set of myths. (We chuckle at the ancient Greeks and their Olympian gods, even as we dutifully make our way to church every Sunday to worship a deity who, as it happens, looks exactly like Zeus.)

We made up stocks, made up a threshold beyond which price declines are considered meaningful enough to warrant a special distinction and we organize our thoughts around that threshold. It’s thus no surprise that 20% ends up eliciting excited behavior, which in some cases entails triggering a self-fulfilling prophecy by placing bets on a rebound in prices.

Bloomberg cited Miller Tabak’s Matt Maley, who noted that opportunistic traders often view 20%........

heisenbergreport.com
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