That quote is from dangerousmeta! on the daily seesaw in the stock market.
It *appears* that the slightest news breeze, positive or negative, seems capable of triggering domino effects where traders swing the market – and the nation’s health – for the good or ill – on the turn of a dime. This doesn’t make too much sense – traders have tons and tons of data to back up their decisions. The weight of over a hundred years experience in understanding the information contained within.
Garret suggests that maybe an alternative to Wall Street is in order. He may or may not have something but I have something I’d like to throw into the mix – maybe we’re finally seeing the result of “too much” poorly filtered and understood information. That, and an increasingly “think fast” culture that rewards first moves over smart decisions. Traders get rewarded on good (not necessarily growth) decisions that are made quickly.
I have no idea what I’m talking about here. I’m just a poorly educated software engineer. But I think there is an opportunity for those who can provide better filters to those who can effect matters collectively – filters that can encourage a culture of long term growth over short term gain.
Overseas markets are rising this morning – supposedly due to Geithner plan news. Tomorrow, someone may sneeze in Japan and America’s market will catch a cold.
News, data, our interconnectedness are more apparent now than ever before. Our tools and our culture need to catch up.
Fast.