Why this? Well, the dictionaries have several connotations of chimera. Here, the intended use does not deal with mythology or biology or genetics. Rather, the sense of this example from Merriam-Webster applies: Economic stability in that country is a chimera. By the way, here is a list of synonyms provided at the same source: fantasy, conceit, daydream, delusion, dream, fancy, figment, hallucination, illusion, nonentity, phantasm (also fantasm), pipe dream, unreality, vision.
Yes, we are saying that pieces of the "market" are about as illusory as one can get. Not all of it (see below). And, economics, which is as dismal as it can get, is where markets are studied.
Now, having mentioned the sense, it might be fun to think of the beast that is represented by the inflated market that we see. Bulls and bears are commonly invoked metaphors. It may very be in our interest to bring that type of usage up to date (too, the younger set's infatuation with the beastly may be motivation).
So, back to markets. How can they be of the chimera type? Note, please that we point to the specifics of the ca-pital-sino as the problematic issue. Too, evaluation conventions allow for a whole lot of slop. Then, we get computation added to the equation which brings up other problems. Really want to know what these are? Well, stick around.
Now, yes, there are other parts of markets that are not chimeric. We will be looking at this from the basis of viewpoint up to wherever it is necessary to go. If you want to leap ahead, you might look at this example from berkeley.edu that uses apartments to lay out the foundation'l issues, to develop the model, and even to bring in game theory's contributions.
However, in our thorough method, the foundation'l piece here will be the focal point for some time. Think a redo of Chimera: sellers and buyers. Too, a couple of series concerning capitalism deserves another look (or two or ...) and, perhaps, even an extension.
- Ideological errors: casino, Adam Smith, shell games, wealth, dis-ingenuity, culture, classism,
- Real basis: imperatives, knowledge, technology,
Like Warren, many have made money with markets (there is no coveting (the 10th in one milieu) here, rather arguing near-zero realism and what such pertains). The chart is an example of one firm's experience of increases by going long. This firm, by the way, shares their wealth of knowledge with the argument that everyone can participate. Even in that case, the run up, via multiples, is still problematic without some fundamental changes. What these might be is pertinent to the discussions here.
So, tru'eng will be looking at how "chimera" applies.
Remarks: Modified: 01/15/2015