tag:blogger.com,1999:blog-5465015914589377788.post3151391511637619282..comments2024-03-20T09:32:16.592-04:00Comments on Michael James on Money: Where Are the Customers’ Yachts?Michael Jameshttp://www.blogger.com/profile/10362529610470788243noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-5465015914589377788.post-25799174618380161032015-02-12T21:16:35.146-05:002015-02-12T21:16:35.146-05:00@Richard: The main difference between the market&#...@Richard: The main difference between the market's momentum and physical momentum is that markets can make sudden changes in direction.Michael Jameshttps://www.blogger.com/profile/10362529610470788243noreply@blogger.comtag:blogger.com,1999:blog-5465015914589377788.post-49634578661147936452015-02-12T10:05:03.577-05:002015-02-12T10:05:03.577-05:00Markets do have a psychological momentum which is ...Markets do have a psychological momentum which is different from physical momentum but does carry weight. Instead of being a steady force it's more of a self-reinforcing cycle with sudden changes. If you want to liken it to the harder sciences you could say that it's like antimatter since whatever idea most investors believe tends to come into contact with its opposite and destroys itself.<br /><br />I would think that some investors would find markets to be a lot like an airplane though - if they are the type of passengers who are terrified by unpredictable turbulence.Richardnoreply@blogger.com