tag:blogger.com,1999:blog-3043548435115956173.post3165219814108289208..comments2023-09-10T02:37:10.790+02:00Comments on Raphaël Kahan: 2010 outlookRaphaël Kahanhttp://www.blogger.com/profile/11365893744422424965noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-3043548435115956173.post-67363390668332289362009-10-26T21:02:15.022+01:002009-10-26T21:02:15.022+01:00Piotr, I am not saying otherwise. All I am saying ...Piotr, I am not saying otherwise. All I am saying is that prices need to adjust so that at each transaction, supply equals demand. If not, then no transaction would take place.<br /><br />I am not an economist so I cannot make a mathematical proof for this but it seems pretty straightforward.<br /><br />You can read John Hussman (2006) "There's no such thing as cash on the sidelines" for a more detailed explanation (http://www.hussmanfunds.com/wmc/wmc060710.htm)Raphaël Kahanhttps://www.blogger.com/profile/11365893744422424965noreply@blogger.comtag:blogger.com,1999:blog-3043548435115956173.post-20065338376859508032009-10-26T20:37:03.963+01:002009-10-26T20:37:03.963+01:00Rafael, have you ever seen transactions actually t...Rafael, have you ever seen transactions actually taking place on a screen? Markets move in response to news but also supply/demand. Trust me, or ask any trader.piotrnoreply@blogger.com