The Market is Not Alive

Financial reporting requires a certain amount of creativity to be able to come up with stories that people will read daily. Among the imaginative creations is the idea that the market is alive and has a personality. This gives rise to headlines like "After four up sessions, Wall Street takes a breather". Presented in this way, it almost makes sense that yes, Mr. Market must be tired after climbing for four days and should take a well deserved rest.

Although it can be fun to think otherwise, temperamental Mr. Market does not exist. The market does not have a personality other than what we give it in hindsight.