Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Trying to Find the Invisible Hand

By

The only difference between intervention and manipulation is communication.

PrintPRINT

Hey, you on the grassy knoll---yeah, you, over there with the tin foil hat... I've got something I wanna show you.

For years, we've whispered about the invisible hand, plunge protection team, unnatural bids...you know, the whole notion that "the only difference between intervention and manipulation is communication."

And for years, we got cross looks and fielded grumbles that we were conspiracy theorists.

A few months ago, I wrote Unusual Suspects, which talked about this concept. Surprisingly, it was very well received.

As a follow-up, I thought you might enjoy the following column, featured in this month's Bloomberg Magazine.

And I quote: "Paulson started preparing for market gyrations on the day he moved to Washington from Wall Street, colleagues say. ``He began working on financial preparedness from the start,'' says Robert Steel, the Treasury's undersecretary for domestic finance. ``And he decided early on that a key mechanism for doing that was the President's Working Group.''

If there was any question who was the buyer into yesterday's close, I think we can now agree that there are mechanisms in motion and agendas in play. Not saying it was Hank, mind you, just saying... well, it very well might have been.

R.P.

No positions in stocks mentioned.

Todd Harrison is the founder and Chief Executive Officer of Minyanville. Prior to his current role, Mr. Harrison was President and head trader at a $400 million dollar New York-based hedge fund. Todd welcomes your comments and/or feedback at todd@minyanville.com.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

PrintPRINT

Busy? Subscribe to our free newsletter!

Submit
 

WHAT'S POPULAR IN THE VILLE