On the left side of the comic, investors trapped in a plummeting market shout “Sell.” They are filled with cries of “This is crazy” and “I can’t hold on anymore.” This is a typical scene of panic selling that repeats whenever bad news appears.
However, when the information reaches the market center, the words lose their original meaning. When someone, mixing despair with “Should I exit?” is passed among the crowd, it is heard as “Want to exit?” and ultimately turns into a confident “Charge!”
Pessimism transforms into hope amid noise, and warnings turn into signals as they pass through the crowd. This is the so-called “Chinese whisper game.”
The messages on the right side are no longer questions. “Buy” becomes a command, and the crowd no longer questions the reason. More important than believing the price will rise is simply “being confident that others have heard it too.”
The subject of this comic is not market volatility. The problem lies in leaving judgments to ears in the market. It is an investment behavior that prefers receiving information over interpreting it, and following over analyzing.
There are always two shouts in the market: “It’s over here” and “Now is the opportunity.” However, when both are spoken by many, they usually turn into noise rather than facts.
As long as judgments are made with ears rather than minds, the distance between “Should I exit?” and “Charge!” is shorter than you think. And between these, what most often disappears is not money, but judgment.
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