Eric De Groot, posts on his newsletter HERE
Oh Dear! Another commercial financial advisor mystifies market processes by calling on an invented illusory entity that only the said advisor understands but potential clients do not.
Hence punters are willing to pay said advisor to share his claimed insights into said mysterious processes.
However, stock prices are VISIBLE.
All prices are VISIBLE.
The so-called invisible hand is, well, invisible because it does not exist.
It was Adam Smith’s metaphor for how people’s SELF-INTERESTED motivations leads them to ACTIONS in pursuit of INTENDED CONSEQUENCES.
Sometimes such actions benefit others as well as themselves. Sometimes they don’t and sometimes its a bit of each. (Markets and legislation can be messy).
Moreover, and separately, following Cardinal du Retz (and Cromwell), people’s motivated actions also can have UNINTENDED CONSEQUENCES both positive and negative.
‘The road to hell is paved with good intentions’ (anon).