Comments on: Quell the Commentary! http://www.ritholtz.com/blog/2008/08/quell-the-commentary/ Macro Perspective on the Capital Markets, Economy, Geopolitics, Technology, and Digital Media Tue, 14 Feb 2012 13:58:51 +0000 hourly 1 http://wordpress.org/?v=3.0.5 By: napster http://www.ritholtz.com/blog/2008/08/quell-the-commentary/comment-page-1/#comment-145603 napster Fri, 13 Feb 2009 00:15:03 +0000 http://thebigpicture.dev.wilder.ca/blog/2008/08/quell-the-commentary/#comment-145603 <i>It is the markets’ job to reallocate money from the ignorant to the intelligent, from the lazy to the hard working and studious; from the naive to the educated, and from the speculator to the investor.</i> ~ ~ ~ ~ This is one of biggest myths surrounding the fallacy of the market. The market does indeed reallocate money, but it may not be from the ignorant to the intelligent, or the lazy to the hard working, or even from the naive to the educated. The market is just a place where people make money. Some people have an amazing ability to make money, but this ability does not make them less lazy, less ignorant , or even less studious. Persons with an inherited source of funds might be so lazy and ignorant that they hire people to make them money. A lot of intelligent people make foolish decisions because of delusion and even ignorance. A lot of people can make a lot of money, but the market itself does not innately reallocate money in the best interest of society as a whole. That's why government has been the parent of the market place since before the Roman Empire. It is the markets’ job to reallocate money from the ignorant to the intelligent, from the lazy to the hard working and studious; from the naive to the educated, and from the speculator to the investor.

~ ~ ~ ~
This is one of biggest myths surrounding the fallacy of the market. The market does indeed reallocate money, but it may not be from the ignorant to the intelligent, or the lazy to the hard working, or even from the naive to the educated.

The market is just a place where people make money. Some people have an amazing ability to make money, but this ability does not make them less lazy, less ignorant , or even less studious. Persons with an inherited source of funds might be so lazy and ignorant that they hire people to make them money. A lot of intelligent people make foolish decisions because of delusion and even ignorance.

A lot of people can make a lot of money, but the market itself does not innately reallocate money in the best interest of society as a whole.

That’s why government has been the parent of the market place since before the Roman Empire.

]]> By: phatmary http://www.ritholtz.com/blog/2008/08/quell-the-commentary/comment-page-1/#comment-101381 phatmary Thu, 21 Aug 2008 01:28:01 +0000 http://thebigpicture.dev.wilder.ca/blog/2008/08/quell-the-commentary/#comment-101381 what is the obsession with ben stein? what's the dynamic going on there? what is the obsession with ben stein? what’s the dynamic going on there?

]]> By: Spartacuss http://www.ritholtz.com/blog/2008/08/quell-the-commentary/comment-page-1/#comment-101380 Spartacuss Wed, 20 Aug 2008 22:07:35 +0000 http://thebigpicture.dev.wilder.ca/blog/2008/08/quell-the-commentary/#comment-101380 I think flim-flam is a cultural neccesity, a by product of free speech where there is so much noise and hype, that even if someone was the ultimate oracle of the markets (there seems to be some) no one would listen anyway, or if they did, they would still let thier emotions get the best of good judgement. Quoting myself I say "there are no safe investments" unless you are on the inside of something big, which for us peons is not likely. Trouble is everyone wants to "shoot the moon" and get rich quick; it's doable, but not realistic. So, let 'em rant, let 'em rave 'cuz we all crave. I think flim-flam is a cultural neccesity, a by product of free speech where there is so much noise and hype, that even if someone was the ultimate oracle of the markets (there seems to be some) no one would listen anyway, or if they did, they would still let thier emotions get the best of good judgement. Quoting myself I say “there are no safe investments” unless you are on the inside of something big, which for us peons is not likely. Trouble is everyone wants to “shoot the moon” and get rich quick; it’s doable, but not realistic.

So, let ‘em rant, let ‘em rave ‘cuz we all crave.

]]> By: Elizabeth http://www.ritholtz.com/blog/2008/08/quell-the-commentary/comment-page-1/#comment-101379 Elizabeth Wed, 20 Aug 2008 18:55:08 +0000 http://thebigpicture.dev.wilder.ca/blog/2008/08/quell-the-commentary/#comment-101379 Love #4... it's quite a compliment when people suggest you have the power to move the market. People have accused me of "working for the shorts" to keep stocks depressed -- if this is true, the shorts owe me a paycheck by now. Love #4… it’s quite a compliment when people suggest you have the power to move the market. People have accused me of “working for the shorts” to keep stocks depressed — if this is true, the shorts owe me a paycheck by now.

]]> By: Greg0658 http://www.ritholtz.com/blog/2008/08/quell-the-commentary/comment-page-1/#comment-101378 Greg0658 Wed, 20 Aug 2008 16:14:32 +0000 http://thebigpicture.dev.wilder.ca/blog/2008/08/quell-the-commentary/#comment-101378 riding home with the wind in my face last night ... I realized (again) that we can't live without business and biggie corporations in todays world (we might see the pass away of small business) but business can't live without our purchasing power (I think)(you wonder some times) riding home with the wind in my face last night … I realized (again) that we can’t live without business and biggie corporations in todays world
(we might see the pass away of small business)
but business can’t live without our purchasing power (I think)(you wonder some times)

]]> By: ben http://www.ritholtz.com/blog/2008/08/quell-the-commentary/comment-page-1/#comment-101377 ben Wed, 20 Aug 2008 15:28:54 +0000 http://thebigpicture.dev.wilder.ca/blog/2008/08/quell-the-commentary/#comment-101377 BR, I'd forward the e-mailer to link to the latest gloomboomdoom report. There are lots of nice charts in the monthly letter for August so that Faber's mention that his friends think the S&P will go to 500, which indicates a 5-6k DOW won't seem like "pure speculation" "that he's trying to profit from" BR,

I’d forward the e-mailer to link to the latest gloomboomdoom report. There are lots of nice charts in the monthly letter for August so that Faber’s mention that his friends think the S&P will go to 500, which indicates a 5-6k DOW won’t seem like “pure speculation” “that he’s trying to profit from”

]]> By: Toro http://www.ritholtz.com/blog/2008/08/quell-the-commentary/comment-page-1/#comment-101376 Toro Wed, 20 Aug 2008 14:27:24 +0000 http://thebigpicture.dev.wilder.ca/blog/2008/08/quell-the-commentary/#comment-101376 "I move markets? I don't think so;" Yes you do! You da man! “I move markets? I don’t think so;”

Yes you do! You da man!

]]> By: GB http://www.ritholtz.com/blog/2008/08/quell-the-commentary/comment-page-1/#comment-101375 GB Wed, 20 Aug 2008 14:23:13 +0000 http://thebigpicture.dev.wilder.ca/blog/2008/08/quell-the-commentary/#comment-101375 Why is he interested in Fusion then? I'm confused... BTW I love #7 BR. You should copyright it... I just emailed to some family members to keep in mind as they are investing and moving around 401k's and such. Excelent Job and don't stop doing interviews or get flustered from these types. Thanks again GB Why is he interested in Fusion then? I’m confused…

BTW I love #7 BR. You should copyright it… I just emailed to some family members to keep in mind as they are investing and moving around 401k’s and such.

Excelent Job and don’t stop doing interviews or get flustered from these types.

Thanks again
GB

]]> By: Harleydog http://www.ritholtz.com/blog/2008/08/quell-the-commentary/comment-page-1/#comment-101374 Harleydog Wed, 20 Aug 2008 13:08:10 +0000 http://thebigpicture.dev.wilder.ca/blog/2008/08/quell-the-commentary/#comment-101374 Barry I would humbly counter that an investor is a speculator who made a mistake and will not admit it. Regards, HD Prudens Speculari Barry

I would humbly counter that an investor is a speculator who made a mistake and will not admit it.

Regards,
HD
Prudens Speculari

]]> By: someone http://www.ritholtz.com/blog/2008/08/quell-the-commentary/comment-page-1/#comment-101373 someone Wed, 20 Aug 2008 13:02:09 +0000 http://thebigpicture.dev.wilder.ca/blog/2008/08/quell-the-commentary/#comment-101373 The OP was an idiot!! Maybe if he wasn't so busy watching American Idols like the rest of America, then folks can educate themselves, do some homework and really tell the difference between fact and fiction. The OP was an idiot!! Maybe if he wasn’t so busy watching American Idols like the rest of America, then folks can educate themselves, do some homework and really tell the difference between fact and fiction.

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