Jul

13

The same way the participants in the market have what the Palindrome calls "a father complex" where whatever the father (now the scholarly real Dr.) says, has the weight of a thousand elephants, so does the market have a young mother complex. Did a mother say anything bullish about bank stocks, and did this flagellate the bears?


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5 Comments so far

  1. Jason Brown on July 13, 2009 6:46 pm

    Let's just say I learned her name today…

  2. SG on July 14, 2009 7:38 am

    The pundits of the show where the young mother spoke proudly noted that the futures had moved up as a result of the comments. I did not believe it and thought “Reporters! What do they know about the markets and what moves them?” I further thought that the show/station, which prides itself on reporting market-moving events, was taking credit for a coincidental move in the futures.

    However, throughout the day, I began to seriously doubt my initial thoughts and my understanding of the markets. I started to wonder whether the young mother did, indeed, have the ability to contribute to a massive move in the equity markets, as her name and her comments were being repeated every three minutes on every business channel for about eight hours straight. A part of me still wants this to have only been a random coincidence….

  3. Don Chu on July 14, 2009 2:08 pm

    One is ignorant of whether the young mother’s oracular pronouncements truly moved the thundering herds to ride roughshod over the bears, or mayhap it had just been time for some bear-ish self-flagellation (it was already the eighth day of the recent downtrend).

    But the post above does bring together in the mind several images: of august–but usually doomed for an early death–kingly father figures, universal all-powerful and eternally youthful mothers, and the painful castigation of an assortment of beatific animals.

    Athanasius Kircher, in his Oedipus Aegyptiacus, sees himself as the enlightened Oedipus who fends off the man-eating sphinx-creature and sends it on a death fall over a cliff. Central to Kircher’s herculean efforts to translate the Egyptian hieroglyphs was the Bembine Tablet; in the centre of which sits the Universal Mother, Isis — regarded as “she is both wise, and a lover of wisdom […] knowing and knowledge belong to her.”

    Unfortunately, far from being the Rosetta Stone of its time, the Bembine Tablet and its glyphs turned out to be more a roman “neo-Egypt” tribute; thus rendering Kircher’s translations spurious. Kircher’s all-knowing goddess/mother Isis, rather than bestowing enlightenment, led him to a tragic mistake.

    One wonders if the young mother from yesterday’s news, may likewise be leading eager bulls (or bears), to a headlong dash to the edge.

  4. Jason Brown on July 14, 2009 3:55 pm

    It was also the same day the deficit topped 1 trillion, very bullish news wouldn't you agree? What was especially crazy about yesterday was that all the euphoria was primarily about a single stock GS, which is the just about the only bank that's doing well because after all they were the ones selling all those garbage CDSs that chumps like AIG were buying. AIG gets bailout money to pay back its debts to GS and M. "Market Mommy" W. is plastered all over TV telling the world how great GS is and how by the way CIT has "value". There's still talk about a second round of stimulus spending and the gov't has already blown through 1 trillion saving inept banks, a sign things aren't working as planned. Let's see what happens after the other banks announce their earnings. When they hype moderately good news up to the moon its a sign of desperation to have things go back to how they once were. The trick I suppose is to step aside while they pull their market shenanigans and remain nice and solvent for the next attack, bear or bull I don't really care which.

  5. Valery Kotlarov on July 15, 2009 5:20 pm

    IMO, the Palindrome and the like are too old for new theories.

    New theories are based and tested in real world by computers: AI, heuristics etc. I even suspect that the ground for this crisis and the future ones, could be people's blind trust to machines. [And also this psychopathic view that 1+2=3 etc, applied to what the Palindrome calls (correctly) "sciences"] Until this trust to machines and gurus (I don't know which is worse, but surely both coupled) is broken, more catastrophes are likely to happen.

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