Re: reification of the market
- From: Stephen Calder <calder9@xxxxxxxxx>
- Date: Fri, 30 Jun 2006 17:19:03 +1000
TOF wrote:
I suppose yesterday must have been the umpteenth time I've heard a
financial commentator reify the market, in this case saying "the market
remained unimpressed with the latest figures".
I found myself wondering why the journalist didn't call in "the market"
for an interview, asking perhaps exactly how unimpressed it was, what
would impress it, and perhaps its opinion on a range of matters. I
can't recall a journalist ever doing that. It's always some person --
typically a male -- speaking on the market's behalf.
If the market can't or won't make itself available for interview,
perhaps we should frankly say so and go on to speak of the concrete
indicators of trade which some may find pertinent.
TOF
The market does give its opinion on a range of matters. Daily. Expressively. Unmistakeably. It's called the price. If the price is going down, the market has passed judgement on the stock and found it wanting. Collective opinion in a single number. Clear but not always accurate.
--
Stephen
Lennox Head, Australia
.
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