Tonight is fading fast
The sun is rising
I've been down so many times
Now I'm realizing
--March Violets
What should happen to volume if non-economic buyers (NEBs), such as central banks, were buying securities? Either directly or through agents, NEBs would accumulate increasingly larger fractions of shares outstanding. Less shares would be available for other entities to trade.
Over time, volume should decline.
While possibly due to less enthusiasm among traders, the present declining volume phenomenon can also be explained by increased buying by NEBs such as central banks.
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1 comment:
Throughout the 19th century, when there was a laissez-faire mentality and insufficient regulation, you had one crisis after another. Each crisis brought about some reform. That is how central banking developed.
~George Soros
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