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Daniel Kahneman, Nobel laureate in Economics, described this in his book, "Thinking, Fast and Slow". Saddam Hussein's capture caused oil industrial stock to cl
by yndoendo 2y ago
Daniel Kahneman, Nobel laureate in Economics, described this in his book, "Thinking, Fast and Slow".
Saddam Hussein's capture caused oil industrial stock to climb because of the association between oil and the Middle East. After people realized that Saddam Hussein actually had no relevance to the price of oil or the product, the socks fell back down.
Stock market is quite often pushed emotion and asinine assumptions versus logic and reasoning. Enough social media echo cambers can easily sway stock prices momentary to make a quick buck.