Max and Me Giving a Shit About the NASDAQ Outage
- Posted by ppearlman
- on August 22nd, 2013
I’ve been at the beach and so am out of the loop a bit about what’s going on in the market. I did see this about the NASDAQ outage and, as I check around, note that everyone is talking about it ad nauseam,
If Fischer Black were alive today, I’m sure that he would be laughing hysterically or perhaps he would be unable to stop throwing up.
1. The market is not broken. NASDAQ is having some serious issues but they will get them squared and then everything will proceed as they were previously. Recall when the AP Twitter account was hacked and the market dropped for a minute and all the pontification during and afterwards. Meanwhile, that occasion was barely a blip in the larger scheme and $NDAQ is probably a buy if its down 5%…
2. If you spent the afternoon attending to this instead of your portfolio, then you were just wasting time on the noise of the day.
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Phil is the interactive editor at Yahoo! Finance. Formerly, he was the executive editor at StockTwits. He is a partner at Social Leverage, LLC and makes early stage investments in web based companies. (More)