Constructal Phenomenon, from Andy Aiken
Amazon hits 1000 and FANG pulls back. Already commentators at Barron's, CNBC and TheStreet.com are talking about a topping out of growth stocks and a shift to value stocks…
Anatoly Veltman writes:
Talking strictly random digits: both AMZN and GOOGL exceeded 1000 right before reversing; AAPL and FB both reversed from 156 area.
Andy Aiken writes:
I didn't call it a reversal. I called it a pullback.
The morons in the media are quick to call every pullback in a bull run a reversal or a popped bubble.
Anatoly Veltman writes:
Yet other morons may be paying 1000, like there is nothing else to do with 1000.
anonymous writes:
Without resorting to invective by calling people morons, didn't Ableson have a similar denigrating mindset to yours when he wrote that people thinking the S&P was cheap at 400 were "intellectually challenged?" I think the word he used back then was idiot, but he still was a name caller. Wasn't the late Abelson the name he used on others that didn't share his wrong beliefs?
Comments
anonymous on June 15, 2017 2:13 pm
i’d be surprised if Victor would agree with the “strictly random digits” comment. big round numbers certainly have some short-term meaning for, say, the S&P 500.