The stock market is stoooopid
Instead of people being all up in arms about Engadget posting that Apple e-mail that turned out to be a hoax (not going to link to it because I think it has had enough link “love”), they should be angry about the fragility of the stock market. I totally agree that the Engadget posting could’ve been handled or worded differently so that it was characterized as more rumor than fact. No question. But when an offhand comment from a CEO, or some blog posting a rumor about the iPhone’s delay (it’s not friggin’ true, people, don’t start selling your Apple stock) can affect the stock market that much, wouldn’t it be more logical to question why the stock market is so ridiculously sensitive to rumor and innuendo? And just so people are aware, I have felt this way about the stock market for a long time, not just because of all this hullabaloo with Engadget.
Example: a company posts its earnings, and while it profited this year and actually did really well, its stock will go down if that company didn’t make the profit that the analysts predicted. WTH? Why should a bunch of outside “experts” have any effect on a company’s financial well-being? If these so-called analysts are off, do they get penalized? Psh.
Scott Bourne posted that Ryan Block didn’t want to go on Apple Phone Show to tell his side of the story, as if that were black-and-white proof of Ryan’s culpability. (I’m not going to link to this either, since I think Scott’s post is just link bait. You can look up Apple Phone Show and find the article yourself.) I call BS. Did it ever occur to Scott that Ryan has been through the wringer enough and just wants the story to fade into the background (which I think it should, since it was a ludicrous story to begin with)? Or maybe that he just doesn’t want to talk with Apple Phone Show? Maybe if Mr. Block wanted to air his side of the story, he might choose a different podcast or news site. Relax, Man. You got your stock money back already. Be angry at the people who posted the hoax e-mail at Apple in the first place! For all we know, it could’ve been people within Apple trying to smoke out leaks in the company. 😛
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