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| Authored by: Anonymous on Tuesday, April 23 2013 @ 04:17 PM EDT |
"How could they be stupid? They're RICH!"
There are people who measure personal worth by the size of their possessions.
Wall Street isn't their Vatican, but it's certainly one of their chief cult
temples.
I suspect what happened here is that automated trades (involving no sanity
checks) were triggered, adding orders of magnitude to the size of the stock
market blip.[ Reply to This | Parent | # ]
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| Authored by: Anonymous on Tuesday, April 23 2013 @ 04:22 PM EDT |
Professionally and for my education I have had to look into
stock exchange transactions and the stuff people buy and sell
and how they decide.
Paranoid is not the word, the word really is stupid!
Collectively stupid at a grand scale even. Unless you want to
call completely trusting computers to make your decisions for
you smart. OTH, the smart people that make their own decisions
probably had a very good day at the NYSE today >:)[ Reply to This | Parent | # ]
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| Authored by: Anonymous on Wednesday, April 24 2013 @ 03:16 PM EDT |
Actually, what almost certainly happened was that a bunch of computers saw the
(fake) news and automatically started selling. Remember, automated trading
systems operate at the millisecond level and taking even 50 milliseconds to
verify the news would put them behind competing systems causing them to lose
out. Since such hacks rarely happen it is actually "better" not to
check the validity of the news as long as it comes from a mostly reliable source
like the AP twitter feed.[ Reply to This | Parent | # ]
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| Authored by: Anonymous on Wednesday, April 24 2013 @ 03:22 PM EDT |
It's called Flinch. One player holds out his hand and the other player either
pretends to slap it or tries to slap it. The first player must avoid having
his/her hand slapped without flinching on the pretend attacks. I think you get
the idea. The market is in a volitile state and the reactions to events are
just like the game. If it were really an investment system, it wouldn't be a
game of Flinch.[ Reply to This | Parent | # ]
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