Mary, again, I agree with you, at least your observations, but not necessarily with your conclusion.
Let me offer this observation: First, it is self-evident that most of the people who are buying stocks now via the Internet do not have the education and training to value stocks like a Wharton-trained professional fund manager.<g>
A substantial number of people, I am told, believe that Elvis is still alive, that aliens are in contact with Earthlings on a daily basis, that women are inferior to men, that blacks are inferior to whites, and other ridiculous twaddle. Educated people commit grievous errors of logic and understanding every day. So why should they be any better at investing than they are at thinking?
The world is full of lunatics, and they all have phones, and pretty soon they will all be on the internet. |
