** Reply to message from "Bob La Quey" <[EMAIL PROTECTED]> on Sat, 17 May 2008 01:08:10 -0700
> > Manipulation both diminishes our understanding and decreases the value of > > markets for useful purposes. For example, all of the nice "momentum > > investing" has done an excellent job of increasing volatility--not a > > benefit. Part of the value of markets is liquidity so that volatility can > > be managed. > > "Manipulation diminishes our understanding" is a nonsensical > statement. It may make some limitied sense if by "your" I understand > you to mean, "Andy" or the generalpublic. But if I know how to > manipulate a market and you do not then I know more about the > market than you do. Is what you object to the private holding > of such knowledge? (Power to do so is another issue. Important > certainly, but different from understanding.) even I got that he/Andy was talking about manipulating something such that the result is that something changes into a more complex and more difficult to understand state. You could think you know more and manipulate the market so that the resulting chaos changed the market so it takes a three-propeller beany hat wearing turd to figure it out. Doug -- KPLUG-List@kernel-panic.org http://www.kernel-panic.org/cgi-bin/mailman/listinfo/kplug-list
