What are some of the biggest fallacies people have about the markets? Jim Rogers: That the market is always right. The market is nearly always wrong. Blair Hull: They’re interested in who’s buying or selling. They think that type of information is important; yet it rarely means anything. Paul Tudor-Jones: That the markets can be manipulated. That there is some group on Wall Street that controls price action in the markets. I can go into any market and create a stir for a day or two, maybe even a week. If I go into a market at just the right moment, by giving it a little gas on the upside, I can create the illusion of a bull market. But, unless the market is really sound, the second I stop buying, the price is going to come right down. [Also] the idea that people affiliated with Wall Street know something. My mother is a classic example. She watches Wall Street Week and she takes everything they say with almost a religious fervour. I would bet that you could probably fade Wall Street...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.