Tuesday, October 03, 2006

Why Do We Do It? 

This blast from a media critic against stories about the Dow Jones average is timely, correct and useless. Even though most stock trading indicators have little meaning, we look at them, worry about them and wonder if they are going to make a record. It is one more example of a lack of rationality, especially when it comes to money. Reporters continue to write that the Dow is up, the Dow is down, the Dow marked time. They continue to phone traders or analysts who give them a quick quote as to why the market acted the way it did. We continue to read the stories.

Why? There is a PR value in the Dow that is greater than the underlying content. Perhaps some day investors will move on. They haven't yet.


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