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Greedy traders are worse than greedy associates

By 4L

I saw that the stock market reacted fairly negatively to the rate cut. Everything is hunky dory and then, KABOOM.

Obviously a lot of people are upset. But give me a break. MSN has this as their lead quote: "Stocks tumble as investors see the central bank's interest-rate trim to 4.25% as way too small, putting the economy in danger of recession." Isn't this sort of sell-off more consistent with a mob mentality than actual reason? Who wants to bet that tomorrow's going to close a hundred points higher?

I guess this is the sort of thing I'm going to have to deal with on a more personal level next year (or as I'm sorting through boxes of papers dealing with such tumbles' aftermath. Fun stuff.

Full post as published by The Once and Future Lawyer on December 11, 2007 (boomark / email).