I'll add this to the Tuesday thread, too, when I post it later this afternoon.

Link to tweet

". . . But that's not what is happening today. What happens today is simple speculation. People buy and sell not on their perceived value of the underlying assets, but based on their sense of where The share price is heading. If it's going up, they ride with it and then sell. If it's going down, they sell to another person the right to buy it later at the current price, even though the price has dropped as they predicted."

This is basically, I think, the same kind of discussion that brought me to SMW all these years ago. At the heart, it strips away the myth of the stock market as a barometer of the economy.

I'm still waiting for the bubble to burst.