So, let me get this straight.
The stock market loses almost 1,000 points in 15 minutes and then jumps back up by over 600 points in the next 15 minutes? Proctor & Gamble and 3M lose over a third of their value in an hour and then rebound?
And some stockbroker says, “It was the ‘fat finger theory’.”
The “fat finger theory” says that someone was entering a trade and their fingers were so fat that they entered the wrong number. (Don’t get too literal…usual it just means that somehow a wrong number was entered in a trade.)
It does kinda explains all the calls my cellphone drops..I’ve got a pretty fat face (Ok, Ok, it isn’t that my fat face is pretty, but you get the idea) and I keep pressing the off button with my cheek.
Back to Wall Street. So, after the erroneous trade, evidently some computers took over and started making trades to save and make money for various firms and the whole thing just took off.
This is what I’m trying to understand: Doesn’t this sound a lot like the Terminator movies in which the computers take over, launch a bunch of nukes, and we end up with a world run by automatons?
Hmmmm….that does sound kinda like what Wall Street and the government is like right now, doesn’t it?
Have a great weekend.
PS…put your money in a Duke’s mayonnaise jar and bury it in the back yard.