"Whenever I see this I wonder who in the world is accurately valued."
More than you'd think. Just like "news" outlets like CNN have to mix in enough real journalism to keep their believers, Wall Street only manipulates some stocks and the rest trade somewhat freely. Same for bonds; they are manipulated, but not to the extent that honest players will throw up their hands in disgust.
"Valuations happen by every person unqualified to determine such a thing."
Ok, I am qualified to determine such a thing. I've been in the investment business for 22 years now, and I'm pretty good at what I do. The majority of the non C-suite players in the markets are good actors, but they kid themselves by not seeing the big grift that underlies it all.
That said, a lot of the public facing numbers are rigged for a narrative.
"Assuming rational actors is the biggest scam of economics, serving mostly to keep the various gambling and pension siphoning activities going."
Almost spot on. Remember, the grifters need enough honest actors to keep the game going. They try really hard to avoid the banana republic stuff like Bernie Madoff from scaring away the needed sheep.
Madoff was a stupid grifter, but he was connected and they tried to protect him.
You're right in thinking it's a rigged game, but this insider suggests they can't go full retard because they don't have total control and still need sheep.
Whenever I see this I wonder who in the world is accurately valued.
Valuations happen by every person unqualified to determine such a thing.
Assuming rational actors is the biggest scam of economics, serving mostly to keep the various gambling and pension siphoning activities going.
"Whenever I see this I wonder who in the world is accurately valued."
More than you'd think. Just like "news" outlets like CNN have to mix in enough real journalism to keep their believers, Wall Street only manipulates some stocks and the rest trade somewhat freely. Same for bonds; they are manipulated, but not to the extent that honest players will throw up their hands in disgust.
"Valuations happen by every person unqualified to determine such a thing."
Ok, I am qualified to determine such a thing. I've been in the investment business for 22 years now, and I'm pretty good at what I do. The majority of the non C-suite players in the markets are good actors, but they kid themselves by not seeing the big grift that underlies it all.
That said, a lot of the public facing numbers are rigged for a narrative.
"Assuming rational actors is the biggest scam of economics, serving mostly to keep the various gambling and pension siphoning activities going."
Almost spot on. Remember, the grifters need enough honest actors to keep the game going. They try really hard to avoid the banana republic stuff like Bernie Madoff from scaring away the needed sheep.
Madoff was a stupid grifter, but he was connected and they tried to protect him.
You're right in thinking it's a rigged game, but this insider suggests they can't go full retard because they don't have total control and still need sheep.