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“Hertz looks at the market and sees there is a group of irrational traders who are buying the stock, and the response to that is to seek to sell stock to these
by smabie 6y ago
“Hertz looks at the market and sees there is a group of irrational traders who are buying the stock, and the response to that is to seek to sell stock to these people in hopes of raising some amounts of money to fund their restructuring,” University of California law professor Jared Ellias told reporters.
Sounds like Jared is miffed that he didn't cash in. The fact that Hertz is up like 200% since the beginning of the month means that the traders are, in fact, rational.
What's great about the market is that it's a self-fulfilling prophecy. If you're wrong, and everyone else wrong, you all become wrong. The only way to, in fact, be wrong, is if everyone else disagrees with you. So what makes your decision wrong is the fact that you were the only one to make it.
I applaud these Hertz traders and feel a little disappointed that I didn't jump in on it. Man, I bet Icahnn is pissed. He could have made one the biggest killing the Street has seen in a long time! Of course, according to our friend Jared, he's the rational one in all of this.
- Waterluvian 6y agoHard no. A favorable outcome doesn't convey rationalism upon the arguments used to justify the action.
- marta_morena_24 6y agoYeah regards from Bitcoin. Your logic is impeccable.
- awinder 6y agoIcahn got in in 2014 when the stock price was in the $50-100/share range, he could have been less-dead on the deal if he hit dumb luck timing. Shares are still going to 0, this is a new offering on a company in bankruptcy court and deep debt and structural problems. Maybe these robinhood jokers will survive grabbing the third rail barehanded but that doesn’t make them smart, it just makes them lucky idiots.
- arkis22 6y agoEven Wile E. Coyote falls when he looks down after running off a cliff.
- cortesoft 6y ago> The fact that Hertz is up like 200% since the beginning of the month means that the traders are, in fact, rational. You aren't factoring in time here... just because a stock has gone up over a specific period of time doesn't mean everyone who bought the stock did the right thing. What if the price collapses tomorrow? Also, a good outcome for an action doesn't mean taking it was rational. If I place my life savings on black in a game of roulette, there is an 9/19 chance that I double my money. If I do, it doesn't mean I was rational to make that bet. It means I was lucky.
- SahAssar 6y ago> What's great about the market is that it's a self-fulfilling prophecy. If you're wrong, and everyone else wrong, you all become wrong. The only way to, in fact, be wrong, is if everyone else disagrees with you. So what makes your decision wrong is the fact that you were the only one to make it. I feel bad that I even have to ask, but is this satire?