When the market fell today, the first day after the election, my friend brushed it off as saying it was a conspiracy by banks/traders/"the wealthy"/"financial people" against Obama to help ensure he fails.
I tried to explain to her of course that the broader market is determined by millions of trades and that no one individual or really even a group of individuals could effect it so much as a whole. She wasn't buying this, and explained that there are just a few big banks which act as brokers and therefore they could easily manipulate the market.
I'm looking for someone who can explain reality here in the most coherent and simple way. Maybe some data on who the average person who trades stocks is, how they make their decisions etc...would also be grateful if someone could show me a few good review articles or other sources.
Thanks
Why would you take your time out to explain to a dumb bitch who thinks everything is a conspiracy? Let her continue her diatribe and know to yourself that she is a dumb bitch; look back upon this and realize you're hanging out with people who don't know jack and try to find educated people to kick it with.
she sounds like a dumb teenager. [as do I, but I don't give 1 single fuck. I have lost all fucks to give; I can literally give you 0 fucks. I'm out. Empty.]
p.s. you should use your position in PE to explain to her that she doesn't know shit and until she is working in finance or has any rudimentary knowledge about anything other than purses and makeup, that she should keep her mouth shut as to subjects she don't know jack shit about other than the shit she hears from OccupyWallStreet. Bitch gun learn today.
Tell her that the price of stocks are based on the value (or expected value) or a company. They dropped because the continued regulations on the financial industry will cut at there profit and will affect the ability of businesses to invest in capital. Also, because people wanted to sell now and receive a lower tax on their gains.
Or slap the hoe. Which ever is more effective, probably the latter.
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