Yesterday was another freak out on Wall Street with the Dow clocking its ninth worst point loss in history. 519 points down, obliterating the gains from Tuesday.
If you have a spare couple of minutes, turn on CNBC for bit today. You will see 12 people simultaneously screaming about things that are practically incomprehensible. These people are members of what I like to call The Spazzy White Guys in Lower Manhattan. And they’ll be accompanied by nonsensical digits packed onto every square inch of the screen.
Ultimately, all of it means nothing. The market is run solely by kneejerk fear and a pack mentality. That’s why your 401(k) lost all kinds of value yesterday.
I fear the Spazzy White Guys in Lower Manhattan way more than I fear any common street criminal. They’re truly evil.