That's what Jim Cramer says. Fund managers control 75% or more of all stocks so price is what they say it is. It is only over the long term (2 or more years) that the price of a stock eventually meets the companies earnings. In between can be huge gyrations.
The problem today is that there are now so many layers of indirection between investor/entrepreneur (or for that matter, doctor/patient, etc) that the pricing mechanism is completely at the whim of powers well beyond the control of either party. > >> Yesterday, a huge number of them had that nest egg cracked wide open >> by quants and corporate button-pressers who have no idea what kind of >> havoc they can cause by their errors. Such is our new technocratic >> thugocracy. >> > Oh stop whining! > IT'S CALLED CAPITALISM DEAR ! ! ! ! > (maybe if I talk to you as a blonde you'll get it) > Don't like it, don't play the game. And if you do play it, then don't > moan when you loose. This is no longer capitalism but something else. In any case, it's technocratic and its thuggish, and the corporations and government have their hands so deeply embedded in each others' pockets that they are not able to separately plunder the taxpayers. (Yes, a play off the definition of a treaty in the Devil's Dictionary.) So they join forces, and pretend to oppose each other for entertainment purposes during elections. - Publius _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/02d81ac107d249d7a1eb7cc611d53...@dual ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
