http://www.stockshockmovie.com/ http://www.netflix.com/Movie/Stock_Shock/70129854 btw anyone has a link to the paul tudor jones PBS 1987 documentary, please post it, Id like to watch it another time
Yeah, I saw it a couple of months ago... kinda boring rehashing of multiple interviews on SIRI fanatics... some of whom were annihilated, some of whom spend all their life living at home with their parents and trying to sue SIRIUS... g
So a bunch of Joe Investors got their asses handed to them in the market and they made a movie about them crying about it? It's not really a secret that Sirius "investors" are some of the dumbest people on this planet, you don't have to go far, just look at the Yahoo message board. This is what the stock market is all about, some people make money, but the majority loses, and to blame it on short sellers is simply immature to say the least. Shorts sellers are an important part of the equation that keeps the markets efficient, without them there would be no stock market in the first place. A stock can rise based on hype and technicals only for so long, but sooner or later fundamentals will come into play, and Sirius did not have any to speak of. This company was bleeding cash left and right and could not turn a profit if it life depended on it. But, I guess that had nothing whatsoever to do with the tumbling share price. I feel that the stock market is too easily accessible for the general public, and this just proves my point. Just a bunch of wannabe millionaires get into it and then scream "conspiracy" and "scam" the very first chance they get. Just look at the trailer for this movie. <object width="480" height="385"><param name="movie" value="http://www.youtube.com/v/E9mLxrkZR_A&hl=en_US&fs=1&"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/E9mLxrkZR_A&hl=en_US&fs=1&" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="480" height="385"></embed></object> These people were buying based on gems like "Sirius XM radio will be on every gadget of the future," 1 out of every 3 or 4 people will have Satellite radio in America." This is not investing, it's speculation, and sooner than later it will bite you in the ass. I feel that there should be an exam everyone needs to pass before they actually have the right to participate in the market. Maybe then we'll stop having these bubbles and prevent people from losing their fortunes.
I feel that there should be an exam everyone needs to pass before they actually have the right to participate in the market. Maybe then we'll stop having these bubbles and prevent people from losing their fortunes. Fughedaboutit. First and foremost you'd think they'd teach rudimentary finance in High School. Not happening and never will. Too busy teaching about some long lost dynasty in China or the Pythagoras' theorem.
True. Take the number of people in the trailer that are wearing bluetooth headsets, and multiply that number by the number of different settings that these people can be viewed wearing their "money mikes" in. Take this figure, and divide it by the total number of interviewees that appeared in the trailer. This is what I like to call the "Total Lack of Credibility Index." Index gives a "Short" signal when >.0001. SIRI investors shot thmeselves in the foot, hoping for a free lunch. Serves them right, now they make a bastardized version of a documentary about it and blame everyone but themselves. So typical of modern society....so painfully typical.
Has anyone seen Floored yet? http://www.youtube.com/watch?v=lW37sEkXMMc&hd=1 Looks interesting... been waiting for it to hit Netflix
Actually, I am glad there is NOT an exam for the stock market, because it allows decent traders to make tons of money on those who follow the crowd... As far as SIRI goes, it pretty much was a big board version of the pennystock pump and dump... So typical. g
It is my unfortunate belief that most of the rise was caused by the hype from hiring howard stern for $200 million in stock options up front. What a nice psychopathic crowd to advertise to and raise capital off of. I favorited that video.