We've blogged about it before.
It's a bonafide MarketPsych pet peeve, the financial equivalent of watching someone chew with his mouth open or say, "irregardless".
What will it take to keep people from being "surprised" at "unexpected" results from noise-laden, short-term indicators (I'm looking at you, Jobs Report) comprised of 33% data, 33% speculation and 33% magic pixie dust?
This article by Randall Forsyth at Barron's says it quite well.
Of course, we have been making this point for a long time, here for example.
Now if you'll excuse me, I have to stop blogging now so that I can find a brick wall and bash my head against it repeatedly.
Happy Investing.
And hey... let's be careful out there.
-Dr. Frankenstocks
Frank Murtha, Ph.D.
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