langreiter.com plain, simple: comment-2002-08-02-3

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comment-2002-08-02-3

CREATED BY chris • LAST EDITED BY chris 8245 days AGO

I have quite a problem with phrases like "managed to run his $300/sh company down to $0.50", as they're IMO extremely misrepresenting. I don't think it was due to Mr Saylor's exceptional management talent that the stock went up to $300 in the first place, so it's a little hard to blame the downfall on him or the management team (the company itself is by any accounts not performing worse than at the time of the $300 stock high). If anything is to blame for "dramas" like that, then it's collective irrationality and unproportional amounts of greed shown by about everyone involved in the bubble economy (who would claim that s/he had any trust in the investments as such back then, as opposed to the obviously wide-spread - and, in retrospect, quite fallible - belief that there must be even dumber gregarious animals out there). On that note, I doubt that the stock market has too much to do with real performance of companies (which seems to become harder to evaluate every day anyway). Traders could as well bet on horses, what difference would it make? At least everyone could finally acknowledge the amount of sheer luck (or randomness) involved in the game then.

Of course it might be a bit harder to sell people pension plans based on the predicted performance of War Emblem.