Monday, 27 July 2009

Justify yourself

The need to prove a story by market movements leads to farcicial statements such as this:

"But as deadlines keep passing by -- the bond was meant to be repaid in May -- investors are getting increasingly uneasy.

Shares in Independent, which is sagging under the weight of a 1.4 billion debt pile and a collapse in advertising, were down nearly 1 percent in late trade."

Nearly 1%? Does that really show anything?

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