Within the financial services world there are a distressing number of writers whose basic universal assumption is that everyone would like to be rich so that they can afford to live in a mansion, drive a flash, fast, expensive car and jet off (business class of course) to exotic holiday destinations. All of this can be easily afforded because they’ve made lots of lovely loot playing “the market”.
One simple fact seems to elude lots of financial journalists. “The market” may describe a physical place which can vary from a collection of tents to an impressive building on Wall Street, or lots of buildings in European cities, with a “Bourse” sign displayed. “The market” may also describe what actually happens day to day, hour to hour, minute to minute while people are actually buying and selling whatever is being offered for sale.
Many forget, when discussing what “the market” has done today, that a market is created, and does not exist unless there is BOTH a seller and a buyer. It is not “obvious” that both are acting because of their belief of what the market is going to do.
They, the buyer and the seller, are the creators.