13 outubro 2008

Para onde foi?

«[…] If you're looking to track down your missing money – figure out who has it now, maybe ask to have it back – you might be disappointed to learn that it was never really money in the first place.
Robert Shiller, an economist at Yale, puts it bluntly: “The notion that you lose a pile of money whenever the stock market tanks is a fallacy.” He says the price of a stock has never been the same thing as money – it's simply the "best guess" of what the stock is worth.
“It's in people's minds”, Shiller explains. “We're just recording a measure of what people think the stock market is worth. What the people who are willing to trade today – who are very, very few people – are actually trading at. So we're just extrapolating that and thinking, well, maybe that's what everyone thinks it's worth.”
Shiller uses the example of an appraiser who values a house at $350,000, a week after saying it was worth $400,000.
“In a sense, $50,000 just disappeared when he said that”, he said. “But it's all in the mind.[…]»

Encontrado no blog da Frenesi, que cita um texto de Eric Carvin publicada pela Associated Press.

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