What Things Are Worth

Flip 'em on the way up...
Flop 'em on the way down...

Subsidize 'em on the way up...
Subsidize the subsidizer on the way down...

There is always a way to make money. When prices were rising, unscrupulous speculators make money by pretending stocks were worth more than they really were. Then they turn it all around and by golly, now they make money by pretending they're worth less than they really are.

Trouble is, no one knows exactly what things are worth. They know even less what they'll be worth tomorrow or the next day.

The theories about economics and markets developed in the last 100 years are almost all nonsense. Markets are not perfect. They do not reflect the actual value of things. There's no way of knowing what the actual value is. Instead, markets are always discovering value - in fits and starts - imperfectly. They reflect reality and fantasy...the future and the past...math and muddle.

Prices move up even more. Happy days are here.

And then, the market discovered that some mining stocks weren't really worth so much after all. Poof.

Up, down...down, up. Flip 'em...flop 'em.

Even when markets are allowed to operate freely, some investors can never make up their minds. But at least it's an honest confusion. Imagine what happens if we had persona deliberately distorts facts and fiction by raising the speculation worth say as witnessed with UC... CMM … GNH posts seen lately?

But, maybe I'm edgy. Still........

IF…..Prices fall…. Bummer.

What stock will get hit next?