Markets do very weird things because it reacts to how people behave, and sometimes people are a little screwy.
Sentiment: NEGATIVE
Every now and then, markets behave like schoolchildren. They overreact, they run around like crazy.
It bothers me when people spoil the market.
I can never predict what the markets will do. Sometimes it does the exact opposite of what I would have expected.
Markets work when people can evaluate the prices and risks of different products, then pick the ones that work best for them. But when the terms of the deal are hidden, competition doesn't work. And customers aren't the only ones who are hurt.
As someone with a deep faith in competition and the market, I also know that markets only work with tough enforcement of the rules that guarantee competition and fair play - and that the pressure to break those rules only gets stronger as the amount of money involved gets larger.
The market turns out to be just one special case of collective decision-making.
I think every market has lot of things in common, and at the same time, every market has lot of different things.
Markets are frequently ahead of, and often out of sync with, the economy.
The market controls everything, but the market has no heart.
The whole market mechanism and its evolution is something that, I'm kind of of the Buffett School. You know, if I see a derivative, I run the other way.
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