Why Securities Markets are Erratic
Why are securities markets so rash and erratic? When you think about it, they ought to be calmer than they are, much more so than we have been led to believe, when the media harps on about the experts who frequent Wall Street.
Institutional investors and their advisers are professionals. They account for 80% and more of all trades and activity. Why then should the markets behave so erratically?
These folks should know what they are doing, not like the other 20% of the public, amateur investors who blindly follow the pros for guidance.
The truth is: Wall Street "wizards" invariably act in a mob-like manner and not as true experts. There is a lot of sour skim milk masquerading as sweet cream. Their investment results speak accordingly.
They may still make their millions. But then again. Aren’t there major league ball players whose averages are down in the dumps, who still make millions each year?
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