Even with only a few hundred bucks in play these are the things you begin to learn as if your fortune depended upon it. The market is a game--and you want to win. Which brings us back to something that I promised to discuss--the perspective of the investing class. This is a class of folks that for the most part have saved money that they are trying to grow and protect. They appear to be very smart and decent people, even downright likeable. And they have some very practical experience in how the market game works and how to win it. But I used to have a neighbor named Paul who worked all his life for the city parks department.
"Never was a rich man who didn't get his money off a poor man's back," is what Paul would say. Which is another way of claiming that all Real Value comes from labor. If we extend Paul's intuition to the investment classes as such we might say that all great wealth is already a kind of redistribution.
On the one hand I wonder if Paul could have done better in the wealth department if he had applied his eighth-grade education and not assumed that investment potential belonged to other people. No doubt there are a billion people asking that question right about now. Better choices are always possible. Nobody can say they weren't warned. So I can see how value belongs not only to those who produce it but also to those who treat it best.
Therefore, I can understand why so many smart investors take a hard line when it comes to the kind of respect we should pay for value. I can see why they have a passion for gold as a standard. A devotion to standards of valuation has allowed many of them to see clearly how our loose regards would steer us into the ditch we're in. When you start watching your money closely in a trading market, these perspectives accrue practical value.
On the other hand, market trends are thoroughly social if not absolute manifestations of collective (un)consciousness. The problems of market cycles have dimensions that exceed the sum of individuals. As my neighbor Paul implied, strictly speaking there is no such thing as individual wealth. All wealth in some sense is held in trust. Likewise, individuals don't create market cycles, it takes a market to go boom and bust.
I can understand why some of the great artists of the market are outraged by our social responses to market crisis. They call it socialism. Yet, no matter which family of theory you belong to--whether fundamental, technical, or E-wave--you are dealing directly with a social movement.
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