Seinfeld's Cosmo Kramer has been replaced by James Cramer of Cramer and Berkowitz. His wisdom matches Cosmo's. The more you know, the worse it is. Which is exactly like falling in love. Yes, the stock market is a love affair with a stock.
Love has reasons that reason ignores, and so it goes with a stock.
People fall in love with a stock when it appeals to their imagination, when the CEO is lying with a straight face, and they ignore valuations shmaluations and the rest. Eventually the truth comes out, but by then the stock has tripled its value, and the CEO has bought three more companies, and tripled his salary. It is a little bit like investing money in legitimate businesses by the mob. . . . My PowerBook has now transformed me into a busy businessman in slippers. It is a full time job.