No Walking on the (Wall) Street
I admit, there are many things about the average American that I don’t understand.
- I don’t understand why Americans get so obsessed with celebrities (see Britney Spears).
- I don’t understand how people get SO invested in a sports team as to feel extreme emotional shifts when events they don’t have any control over occur.
- I don’t understand why people get so excited about MySpace and other social networking.
- I don’t understand how or why people spend so much money on luxury items like wine or watches.
- I don’t understand how people can settle at some point and become copasetic with not advancing further.
- I don’t understand why people empower the mainstream media by watching stories and later question the motives for doing the story.
- I don’t understand why people buy things from SPAM messages!
- I don’t understand people who are against something because of a literal interpretation of a religious text but fail to see the inconsistencies and inapplicable parts. It seems odd to be both literal and selective about such things.
Apparently, though, if you’re on Wall Street you don’t need to understand people. It’s interesting, I think, to see how the views and behaviors of the average person plays into the decisions of investment bankers, traders, and analysts alike. In my view, they really don’t. One can model a company and dig into their business, completely focused on the consumer, and never really have been in their position. I find it fascinating how little the actual results of any consumer focused company seem to forward looking (figuring out how consumers will think) versus backward looking (what happened this past quarter?). Just a thought.