Re: Online gambling to be attached to defense bill???- article Uh oh!!
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I made my living trading on the options floor many moons ago.
One time they was a severe sell off at the end of the day out of nowhere.
The evening business news, Paul ??, pre-CNBC, said that the sell off was because investors were disappointed with the latest 10 year Treasuries auction.
The next day the truth came out. Some guys at Solomon Brothers, I think it was Solomon, accidentally activated the sell programs. Hence the market sell off.
My point is the analysts and talking heads always feel they have to give you a reason for something. Truth is, sometimes there is no reason at all. It's just a bunch of stuff that happens and the price is the collective result. There doesn't have to be a reason.
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I have little to no knowledge of the world of finance, but stories like this one (re: Solomon & the accidental selloff), as well as each of the little nuggets in "Liar's Poker" are truly fascinating. On the point of news in Washington influencing the markets, do many of the major investment banks or hedge funds run Washington offices where they monitor government actions for potential impact on investments?
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