UKNM: lastminute and tech stocks and shares

[Rory Teeling]

I have been reading with interest the comments on the

lastminute (and other technology) shares plummeting,

and particularly the post analysis of why this is

happening (lastminutes unsupportable business model

etc).


This assumes that the financial markets work on logic.

They dont - the value of a company is only what people

percieve it is (and those people are usually anally

retentive, overpaid children a.k.a traders). The world

of trading is a closed world - and the rules and

relationships defy any logic.


In some ways it is comforting to know that the world

hasnt changed at all - this kind of boom bust goes

back to the south sea bubble and beyond.


But just in the way that the world didnt learn from

any of the previous bubbles bursting, so we will

probably not learn from this.


Good luck lastminute et al - ride the storm.


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