Quote:
Originally Posted by philliesfan
Sorry but I think the buyer determines the value..........
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What if it's both?
Seems like the market needs both a buyer and a seller to clear. Otherwise, if there's a bid/ask spread, then the market doesn't clear, and we have no price signals to use, and get to go back to just pulling numbers out of our hat.
I suppose you could always make the argument that some sellers bid on their own stuff, thereby creating a reported fake market price that doesn't actually exist. And without some knowledge of these shenanigans, the rest of us are left to our own devices to evaluate whether the reported price is at all manipulated by goons in this fashion.