richb01803
Rich
join:2001-02-14
02100
| Re: Don't worry, be happy The difference is in the sheer level of optimism.
It's one thing for a sportswriter to publish comments to the effect that "The New England Patriots sucked last year, will still suck this year, and will probably have to move to Houston before they'll ever see another chance at the Superbowl."
It's another for someone to say "The DSL industry is tanking now and will likely fail by 2006. Investors should look elsewhere, we recommend 5-year US Treasury notes."
The sportswriter would get to keep his job. If he's wrong, the worst thing that happens is a lot of bettors lose a few hundred bucks.
The industry analyst would get fired. So he has to give this happy-happy horsesh*t constantly, which makes it wrong even more of the time. Since they are wrong so often, a lot of investors suffer the worst-case scenario of losing thousands or tens of thousands of bucks.
The Wall Street game is really getting under my skin these days. |
