Tuesday, October 16, 2007
A recent post, Seoul Brother, following the pointy-bit in the upper-left of the adjacent graph, imagined both negative alpha, on top of negative beta for what was apparently (until today) the world's favorite steel stock. A meeting with the company's CFO doused overheated expectations that had previously catapaulted the Korean firm's share price into the stratosphere. The result in the prevailing mimetic world of "Do What the Other Guy Is Doing" is the financial equivalent of being food-poisoned or Pyongyanged by a bad bulgogi, an experience that that this Cassandra has unfortuntately experienced at an un-named Korean establishment in London. In a world of followers and leaders, POSCO has undoubtedly been a liquidity-sensitive leader. Once investors' stomachs have been purged of that which made them yak, I am interested to see its related impact upon its peers and brethren inhabiting this brave new world of unmitigated feedback trading.
(p.s. I am aware of the geographical inconsistency of the post's title with POSCO, but I simply liked its sense of onomatopoeia)