Stupid people and the stock market
I had written a much longer draft of this post called “Greed and ignorance in the stock market” but after writing what became a very long, whiny post about how I used to work at a stock brokerage and have thus learned how completely broken and stupid the entire system is — I realized it sounded a bit like a big fat ugly complaint. So I deleted it.
I’ll just say this. When Twitter held their IPO the stock for Tweeter Home Entertainment Group shot up 523% forcing FIRNA to suspend its trading. And recently, something even more ludicrous happened. With Google’s news of acquiring Nest (a private company by the way) the stock for Nestor, Inc. shot up 1900%!
The only possible explanation for what I just wrote is stupid people.