Dow Now...
I promised you the good and the bad.
The markets closed down.
But not too much, considering that it is a Friday.
I do not choose to believe these results violate the idea of an on-going "Long Boom" etc. etc.
They'd better not.
The markets closed down.
But not too much, considering that it is a Friday.
I do not choose to believe these results violate the idea of an on-going "Long Boom" etc. etc.
They'd better not.
posted by Ben Wattenberg at 1:06 PM
1 Comments:
Yes, Ben. The long boom is still probably on, despite the market closing down today. The reason is because it is useless to try to divine some kind of long-term or even medium-term trend based on only two days' worth of stock data.
Don't you see the futility of reporting, on your blog, the ups and downs of the market on a daily, or hourly basis? That's what CNBC and the other cable news channels, as well as internet stock monitoring websites are for. If you are going to report market data, the only way it would be useful information to your loyal readers is if you put your own spin on it. If you analyzed it (beyond the "long boom" idea).
Ben Wattenberg saying "Market closed down today" is about as useful and interesting as reporting that the weather today was partly cloudy or that it snowed. That, too, is readily available information that anyone with a newspaper or a television can find out.
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