Okay ... make no mistake about it ... this is a rant !
It's no damn wonder that most of the world is in financial turmoil when you realize some of the factors that affect the stock market ...
A couple of months ago, Research in Motion (or RIM), the people who make the Blackberry, released their quarterly financial report. To any sane person, things looked pretty good ! Sales were up ... profits were up ... future sales forecasts were up. Sounds good, right ? Wrong (apparently) ! Because their numbers weren't up as much as some "market analyst" expected, RIM's stock took a huge hit that took weeks to get over ! How stupid is that ? (Note: a "market analyst" is just some asshole with a big mouth trying to make a name for himself.)
Yesterday, Ericsson, the cell phone and radio manufacturers, released their 3rd quarter financial results. Their 3rd quarter net profit was down $378 million dollars (US) or 28%. Now, any sane person would say "Hmmm ... that doesn't sound good ... maybe it's time to think about selling". But apparently you'd be wrong ! Because their net profit wasn't down as much as some "market analyst" (probably the same asshole referenced above), Ericsson's stock went up 19% !!!
No damned wonder the stock market's gone nuts ... the patients are in charge of the insane asylum !
