I'm sorry, I really don't know much about the stock market, but I still think the global downturn over the Coronavirus is *weird* for so many reasons:
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Replying to @BootlegGirl
When Pokemon Go came out Nintendo stocks went up 4.9% despite the fact they neither made or published by them, and they don't own the rights. Berkshire-Hathaway's stock went up 3% during the time Anne Hathaway was hosting the Oscars
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Replying to @Kthranos @BootlegGirl
Stocks are bought and sold by people making decisions by glancing through headlines or looking at Google trends
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Replying to @Kthranos @BootlegGirl
By its very nature, the stock market amplifies irrational reactions Any individual trader isn't making decisions solely based on "objective factors" (whatever those may be), their objective reality is made of everyone else's subjective decisions
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If I'm a day trader I may know perfectly well that there's no actual material risk to Apple's suppliers in China from the virus fear, but I don't know that *other* people know that My job is just to be the first one to sell a falling stock and buy a rising one
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So I do something stupid because I predict other people are going to do something stupid and I have to beat them to it It may well be that no one at all is *actually* stupid and everyone just assumes everyone else is And so a stampede builds up from a mirage
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This is why people like Warren Buffet talk about the foolishness of short term trading and how buy-and-hold investors go against the current of short-term fads (if you like a stock, then the stock price momentarily falling is just a reason to buy more of it)
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