Alan Saracevic’s article “Dancing to the Street Waffle” discussed the tendency in business towards “blaming the other guy” as a means to avoid facing hard business problems. So I asked him “One question – from my reading of your article, it seems that we’re heading towards a big fall again – maybe another Black October? Or do you think they can continue to invent more excuses easily digested by gullible investors until past the election?”
So what did Alan say? Well, he’s been around and I’m sure heard the “crash” worries time and again to be too worried about it. “I wouldn’t say we’re heading for a crash. A story I read today tells me a lot – insiders are buying stock at a pace unseen in two years. That means they believe it’s heading up – but if I knew anything about trading stock, I wouldn’t be working at a newspaper…”