"The power to manage though, is with the marketplace (you and me), not the managers. They just take advantage of the uncertainty."

I still believe the "more than huge" hedgefunds of Blackrock, Goldman Sachs, JP Morgan and HSBC can pretty much steer the market by going short the PM mining shares and influence the CALPERS, Oppenheimers and other huge investment funds of this world by means of their pricing behaviour and rating services.

What the retail investors then do is indeed self-defeating, but can you blame them after 7 years of distortion?