Interesting article on Businessweek.com today – it talks about the media’s influence on the reaction to what’s been going on with the market the past several weeks. My knee-jerk reaction was no, people can't be THAT stooopid, but the more I think about it, the more it makes sense. I mean, how many armchair investors out there tune in to listen to Jim Cramer like he’s Jesus Christ himself turning water into wine, and take every word out of his mouth as fact? Imagine the panic when he pleaded with people to pull their money out of the market earlier this month.
How much of the mass hysteria we’ve seen can be attributed to the media pledged with keeping us up to date on everything? I'm interested to hear other's opinions here.
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