Jan 24, 2008
viral insanity
Just got back from a week in London and Tokyo, mostly away from watching the markets. I’m sure glad it turned out that way, it simply meant I didnt have to sit through the absolute insanity of watching the market sell off at stupidly low prices only to buy back at higher prices the next day. Also, I didn’t have to make any decisions to sell any of my own portfolio. Note to self: When the futures and news point to an extremely bad (or good) day, place the orders you know you would want filled, and turn off the screen. I’d rather not tempt myself into being just another fear (or greed) driven market fool.
2 Comments, Comment or Ping
Richard
Welcome back Mike!
Irrational minds indeed - now I get the name!
Yeah it’s almost a mass hysteria… I wonder how much of the sell off was by institutional investors and how much of it was amateur investors.
Similarly - who was buying?
Jan 24th, 2008
mikey
Hey Rich, good question.. Maybe the selling cycle was the usual suspects, ie Institutionals took the lead by rebalancing some of their portfolios on the back of very serious billion dollar writedowns and talk of US recession.. and this triggering irrational selling from impressionable retailers, back into the hands of the institutionals of course
Would be very nice to know who is doing what, and in fact these are some of the very numbers we are crunching in the research for my thesis.
Jan 25th, 2008
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