Tuesday, May 26, 2009

Arbitrary and Emotional - Hallmarks of Capitalism

Pricing Deals with charts, graphs, and the absurd voodoo of the 52 Week High. The Wall Street Journal:
In other words, boards and bankers are just like the rest of us. They set aside their rational mind in favor of those anchors -- arbitrary and emotional points of concentration.
You don't need Goldman Sachs to do this math. Dr. Phil will probably do the trick.
Given, of course, the perfect symmetric information of economic mythology 101. So efficient. So impartial. Such an unbiased meritocracy. No room for foundational, existential restructuring here.