what really drives financial markets, page-5

"What really drives financial markets
The answer is Crowd Psychology"


Imo the crowd rarely have a clue at turns & are going 180 degrees in the wrong direction shortly at the time of the high (or low)...
If you are driving a car ..you have control of the steering wheel (normally)...whereas the crowd do not (imo) have control of the steering wheel in the financial markets.

Saying crowd psychology drives financial markets is imo about eqivalent to saying cattle drove the long cattle drives of old that were undertaken before cattle trucks were invented & when men on horseback rode along.
Sure the cattle provided their own energy to get from the ranch to the abbatoir ...but they had no idea (obviously ) where they were going.
(Of course the difference is the "crowd" can get out with a fistful of money(some of them) as well as a beating heart..unlike the cattle ...)
but the in other respects ...the "crowd: drive financial markets about as much as cattle used to drive the long cattle drives.
The question of what drives financial markets to me must include what causes them to actually turn & that imo is simple mathematics.