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Strategies & Market Trends : ahhaha's ahs
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To: ahhaha who wrote (5519)10/22/2002 11:33:05 AM
From: ahhahaRead Replies (1) of 24758
 
We've covered this stupidity before, but I had to note CNBC's Bob Pisani's reiteration of it. He said, "STOCK MARKETS DO NOT LIKE UNCERTAINTY".

How does one quantify in the least degree "uncertainty"? There is always uncertainty. Pisani was trying to convey that Iraq adds to uncertainty, but the degree of uncertainty is uncertain. When and how much does Iraq add to uncertainty? One could make a strong counter argument that it adds to certainty.

Then he said, "uncertainty continues to weigh on the market". If this is at all intelligible, then one should stay out of markets, because uncertainty has risen. So what happened to "bull markets climb a wall of worry"? It's suspended until the market has risen further thereby dispelling uncertainty and replacing uncertainty with "worry".

Of course, one could also replace "worry" with "certainty". It has been my unparalleled experience that bull markets climb a wall of certainty. Rising price means rising confidence in the certainty of rising profits.
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