Wednesday, May 17, 2017

Yawning is now fashionable.........

"But it is hard to resist the idea that there is a news-fatigue element to what is going on. Stocks, traditionally, have overreacted to news. A thing happened, and traders thought they were smart and over-interpreted it, and the next day something else happened and people over-interpreted it the other way. But there is just too much news now. If you over-interpreted all of it, you'd get whiplash. So a retreat into under-interpreting -- from panicking at minor news to shrugging off huge news -- seems like a natural reaction. The new way to tell yourself that you're smart is by not reacting to news"

-Matt Levine, as extracted from here

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