May

7

Danny AingeNoted in my morning's rag that Celtics GM Danny Ainge was fined $25,000 for tossing a towel to try and distract Cavalier forward J.J. Hickson as he shot a free throw! A really visible example of very poor sportsmanship. Perhaps the NYSE floor traders need to hire him to try and distract the sellers the last couple of days?

Kim Zussman replies:

The 1930s created a generation of retail investors who decided equities were fool's bets (and one could argue that the next unadulterated generation, coupled with a fortuitous lack of major wars, explains much of the bull market 1980-00).

One wonders how many broken hypotheses, market glitches, scams, sovereign/municipal defaults, real-estate which never drops, and government interventions it will take to persuade the 401Kaboomers who are starting to retire (often without choice) that assumptions about investment vehicles makes asses out of…


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