The Money Game Fri 2010-03-19 12:23 EDT
The SEC's Rick Bookstaber can hardly watch as sheep-like investors chase the gold bubble straight off a cliff...
cliff; Gold bubble; Hedge funds; lure investor; Money game; pump; Rick Bookstaber.
naked capitalism Tue 2009-12-29 09:03 EST
Investors are basically rational, right? In fact, as many studies have demonstrated, the answer is no...Rather than search rationally for information that either confirms or disconfirms a particular belief, people actually seek out information that confirms what they already believe. For the most part people completely ignore contrary information...
Fear Turns People; Guest Post; Investor psychology; naked capitalism; sheep.
naked capitalism Thu 2009-11-19 10:33 EST
Financial insider and commentator Yves Smith wrote an essay last week entitled ``MSM Reporting as Propaganda'' arguing that the government has been using propaganda to make people think that things are getting better, no one is angry, and -- therefore -- no one should get upset...Is Smith right? And even if she is, isn't ``propaganda'' too strong a word?...Even if true, propaganda is too strong a word for attempts to convince people that important issues are boring, that no one else is angry about them, and that everything is normal. Perhaps ``herding the wayward sheep'' would be better . . .
