points by ceejayoz 13 hours ago | 0 comments
The market is a group of people, and much of that decision making is in the hands of a very small proportion of it.
[–] howunfortunate 13 hours ago
[–] ceejayoz 12 hours ago
> People with something to lose tend to actively "vote" only on what they know something about.
"Prediction" markets have rendered this clearly false of late.
> the reason I trust the market is the "skin in the game"
The market expects economic bailouts and other assistance during downturns, because individual investors with 401(k)s demand it, despite the perversions of market incentives that result.
Not that it's somehow "not people" (of course it is).