Who are the folks we see on TV at the close of the daily stock market sessions that are clapping and smiling while they ceremoniously ring the bell that ends the day? I can understand the clapping and smiling when the markets have shown an increase. But when the Dow has tanked 450 points during the day, I'm not sure I understand the exuberance. I would, I think, when my portfolio has shrunk 6% in one day, prefer a somber ceremony that shows some respect for my loss.
I guess one could interpret the exuberance on a down day as ignorance of what has happened or just plain rudeness. Or maybe those people are hedge fund investors who have gambled that the market will decline and have just made a ton of money on other peoples' losses and their exuberance is a kind of "in your face" thing. Or, maybe, they're just stupid. Whatever they are, it just doesn't seem appropriate to be clapping and smiling when the markets have declined.
I guess one could interpret the exuberance on a down day as ignorance of what has happened or just plain rudeness. Or maybe those people are hedge fund investors who have gambled that the market will decline and have just made a ton of money on other peoples' losses and their exuberance is a kind of "in your face" thing. Or, maybe, they're just stupid. Whatever they are, it just doesn't seem appropriate to be clapping and smiling when the markets have declined.
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