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To: Shack who wrote (121755)	7/8/2005 8:09:56 PM
From: Moominoid	Respond to of 209892

Capitalizing on it would be knowing the event was going to happen and then acting on that. But the situation is the opposite. Particularly if you were short before the event, should you stay short? Of course we all know that short-selling is immoral and unpatriotic to start with :)

To: Shack who wrote (121755)	7/8/2005 8:23:32 PM
From: skinowski	Respond to of 209892

what you think the market should have done yesterday? Exactly what it did. True - applying any ethical - or personal or esthetic or moral - personal criteria to financial markets makes no sense at all. I don't think that if there would be NO 9/11 the chart of the $SPX would look all that different. Financial markets are like the ocean - they keep doing their thing.... and they dance to the same tune as the "real world", including events like wars and major disasters. But that's the "big picture". On a more personal level, when one looks at images of death and destruction - and on the same split screen they show the spectacle of people trying to figure out how to make money off the event - it gets a bit nauseating. From a "sentiment analysis" POV, btw, yesterday's reversal imo had little to do with "glorious resiliency" or any other type of bravery. What we saw (in a large measure, imo) was evidence that the crowd learned from the 9/11 experience - namely, that markets bounce up. So, they jumped in. Some day those same people will do it again, and they'll be wrong, and they'll lose their shirts. Good old Mr. Market at play.... -g PS - Just noted your "edit". I understand the sentiment.... probably would have done the same thing.

To: Shack who wrote (121755)	7/9/2005 11:13:05 AM
From: Henry J Costanzo	Read Replies (2) \| Respond to of 209892

<<I actually donated a pile of profits to the Red Cross afterwards..>> Thinking about that, and other posts on the subject, overnight. Your action commendable, Shack, and your motivation very understandable...... But IMHO......not morally necessary. Don't see how any moral opprobrium could be directed in any way toward the fact that you happened to hold a position which profitted from the 9/11 tragedy. Likewise, see nothing morally questionable in any reactions in the open markets to the tragic events in London, Life goes on. Old cliche..... but those of us who have experienced personal tragedy know that simple fact is probably the most difficult thing to deal with after tragedy strikes. Associated feelings of guilt very difficult to shake as "life goes on".........