Re. the psychology of the market: All those stations dedicated to nothing more than talking and talking and talking about the market. Even though nobody knows. And they just start to babble. Frantic babbling.
But I have to tell you that this morning when I realized Mr. Buffet himself was on "Squawk Box" for the entire time today, I hit record. I do not mean Jimmy B. I am listening to him right now. W. Buffet -- I will catch him later when I can sit around on the couch for an hour or so.
Yeah, it's a mess. I pick and choose what I listen to and read. And sadly, I think they all know just about as much as I do.
But all this constant commentary is like never before. Remember when you used to have to squint at your stock closes in the newspaper. And maybe catch a little business news once a day on some regular television station. Not like now -- everything out there about business is in constant freeform babbling on Channel CTMI and all its counterparts. Fill the air. The name of that game. The reality of all this is not good. But the constant taking of the market's emotional temperature makes it worse. But that is not going to change. There is air to fill.
Boomer
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