Your last sentence is spot on but it doesn’t capture the full weight of the impact rich people vibes have on the world. The perceived value of every stock, and by extension the economy as a whole, is almost exclusively a vibe check of rich guys. There is no objective information about a company that is more indicative of that company’s success than how rich people feel about it.
And since Rich people are just interested in having the biggest number, they only invest in lines that are going up every quarter.
Mutual funds are doing the same thing, and since they’ve convinced the rest of us to invest our retirements into stocks instead of pensions, we’re all fucked when it fails.
Your last sentence is spot on but it doesn’t capture the full weight of the impact rich people vibes have on the world. The perceived value of every stock, and by extension the economy as a whole, is almost exclusively a vibe check of rich guys. There is no objective information about a company that is more indicative of that company’s success than how rich people feel about it.
And since Rich people are just interested in having the biggest number, they only invest in lines that are going up every quarter.
Mutual funds are doing the same thing, and since they’ve convinced the rest of us to invest our retirements into stocks instead of pensions, we’re all fucked when it fails.