This past Friday, I didn’t spend much time in front of the computer, but when I happened to pop onto Twitter to see if there was any news, I noticed a couple of tweets that were rather alarming:
Some folks may look at that and laugh or think it’s funny. I don’t. I think it’s embarrassing. First, I’m hoping that “investors” doesn’t necessarily mean people who manage other people’s money. If that’s the case, I would be very sorry for those people who happened to have someone managing their money that didn’t know the different between Twitter and Tweeter. Yes, I realize they’re very close, but when you’re investing money, don’t you want to be sure you know what you’re doing? Second, how can this mistake even be happening? I could see maybe a few people making this mistake, but for the stock to be up 489%? I wonder if maybe much of that extra trading was people realizing that other people think that it’s the Twitter stock, so they start buying the stock.
That last point really doesn’t make sense, though, because Twitter’s IPO just went public.
Another disheartening thing to think about as a result of Tweeter is the efficient-market hypothesis. This is a fancy way of saying that the stock market (or financial markets) should have the most current information. Meaning, if someone hears good news about company X, they’ll begin to buy that stock (which will make the stock rise and more people will hear the news and the stock will rise some more). This process continues until, theoretically speaking, the stock has reached the price that people are no longer willing to continue buying the stock.
Well, if we think about what happened on Friday, it certainly blows the efficient-market hypothesis out of the water. So, I ask again — how could so many people get that wrong?
Posted in Business, News, Technology
Tagged CNBC, Efficient-market hypothesis, Initial public offering, IPO, Market, Markets, Stock market, Tweeter, Tweeter Home Entertainment, Twitter, Twitter IPO, TWTR, TWTRQ
About a month ago, there was a rather disturbing headline that came as a result of a Gallup study: “70% of americans hate their job.” When I first read that, I thought, that can’t be right, can it? 70%!? That means for every person who likes their job, there are at least 2 people who hate their job. Do you like your job? That means that 2 of your friends hate their job.
Even now, reflecting on this, I find it hard to believe that this many people would stay at a job they don’t like. There would have to be an overwhelmingly compelling reason to stay at a job that one hates. A few things that come to mind: mortgage, children’s college fund, student loans, etc. I suppose we could talk about some of these big-ticket items weigh on the minds of people, but I’d rather talk about work. Why is it that we can’t all be doing something that we like to do?
Assuming that there are as many jobs out there as there are people, couldn’t we reach some sort of Nash equilibrium where everyone’s doing something that they like to do and no one’s doing anything they don’t? Part of the problem with reaching Nash equilibrium would be that some people are motivated by different things or are coming from different situations. So, I might really like construction, but I’m not very good at the things that you need to work in construction. If I have a degree in accounting, I might become an accountant, even though I’d rather be working in construction. There may be someone who’s in just the opposite situation, too. If we could switch jobs, we’d both be moving from miserable situations to desirable situations.
I haven’t really touched on the health implications of hating your job, but that’s an important factor to consider, too:
‘Our analysis clearly established that there was no difference in the rates of common mental disorders, such as anxiety and depression, between those who were unemployed and those who were in the poorest quality jobs.’
I think it’s a misnomer to say that work is supposed to “suck.” Why can’t we do what we love? Maybe for some folks, they don’t do what they love “full-time,” but they can gradually work their way into doing what they love full-time. Ken Robinson, noted TEDTalk speaker, wrote a great book a few years ago about finding your passion. If you’re working in a job that you hate (and statistics would tell us that you probably do) or you know someone who is, I’d recommend taking a look at Ken’s book. It just might change your life…
Posted in Business, Health, News, Science, Wisdom
Tagged CNBC, Daily Mail, Employment, Gallup, Game Theory, Job, Job Search, Ken Robinson, Nash, Nash equilibrium, Passion, The Element, Unemployment, Work