Rationalizing Volatility

From Yahoo Finance today comes this excerpt:

And Wall Street remains uncertain about the economy and specifically the financial sector. This week has brought fresh attention to potential trouble spots in the mortgage market. Fannie Mae and Freddie Mac, the government-chartered mortgage financiers, are still a concern, as are regional banks that could have bad mortgage debt on their books. But, for the moment, investors were pleased by the drop in oil from record levels. “I think the pullback in oil is significant. The market and the market participants clearly had digested what the impact was going to be if oil prices had stayed at that level,” said Dan Genter, president and chief investment officer of RNC Genter in Los Angeles.

Fill air time. Say anything. You don’t have to even make sense (see bold). Will people read it? I guess. I did. Will people act on it or use it? I hope not, but I suspect this type of information does indeed impress people enough to act.

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