In an age obsessed with mathematics it’s not surprising that someone started tracking the prices of stocks and bonds.
His name was Charles Henry Dow and he also founded the Wall Street Journal, which was a good idea.
But ever since he started that business with the tracking, we’ve been reading the entrails of those price movements and trying to figure out what “the market” was doing and what it might do next unless it didn’t and what it meant.
Not much, frankly. We’d be much better off ignoring the TSE and all that stuff and sticking to fundamentals in our business affairs, economic policy and our lives generally.
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