T Nation

Did Mark Cuban Predict The Market Crash?


Was reading a story today and ran across this quote from Mark Cuban:

"The only people who know what business Wall Street is in are the traders," Cuban wrote on May 9, 2010. "They know what business Wall Street is in better than everyone else. To traders, whether day traders or high frequency or somewhere in between, Wall Street has nothing to do with creating capital for businesses, its original goal. Wall Street is a platform. It's a platform to be exploited by every technological and intellectual means possible."

I thought I'd plug into the collective wisdom of T-Nation and gather some of your thoughts on this. Basically he goes on to blame professional traders for the blame, along with a few other key factors such as the national debt load of countries.

Anyone have a solution to the craziness?


traders just trade...thats what they think they are supposed to do...most of them don't even know what they are doing...

in reality, this entire week has been about adjusting price for risk...there is a lot of uncertainity right now...every company's stock was valued on certain assumptions and all those assumptions have just been challenged by the threat of global government default...

the mkt has been adjusting itself everyday now...people buy when they see value in underpriced stocks and others sell off when that uncertainity creeps back in their mind...