Objective, Competent... Relevant financial information
Monday, October 27, 2008
In writing a letter tonight that will be distributed around our area, I was considering putting in "lemming-like behavior." After some brief research, I found the long-standing investment concept of lemmings who supposedly follow each other off a cliff is completely false. See snopes.com. The most entertaining thing about this factoid is that traditional Wall Street still uses this analogy all the time. These are the same people who followed each other off the cliff of CMO's, CDO's, CDS's, subprime mortgages, etc. Ironic...