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Originally Posted by Phanuthier
Well, the stock market is a zero sum game: for every dollar gained is a dollar lost. Alot of money was lost, so some people must have made a killing.
It is funny to read those analysts and the crazy words thrown out there to try and explain what happened. Stocks "crash" and its investors sell on fears that the recession is deep. The next day, stocks "surge" on investor confidence that the market is turning around. The next day, stocks "crash" based on poor earnings report of some company. The next day, stocks "surge" based on speculation the feds will cut interest rates. And so on.
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They had an interesting 60 minutes show. Apparently some Hedge Fund Managers made out very good in the Credit Default Swaps as in the multi billion in profits kind of good. They listed some names and companies that I havent heard of.
After watching a few of the last 60 minutes programs, the whole mess is making a little bit more sense - not a lot but a little.