Meta Recursive April Fool’s

Okay, this is now getting downright silly. Let’s clear this up, before it gets further out of hand:

Last night, I set to post my April Fool’s gag — about Google’s new search engine that  allows you to search one day into the future. It was cute, but tame, and as the comments reveal, caught a few people off guard.

Then this morning, I saw Doug Kass’ April Fool’s piece, announcing his conversion to the uber-bullish camp. It was obviously a joke, punctuated with an "I have decided to convert my dedicated short funds into long-only partnerships. April Fool’s Day!"

Dougie’s commentary was very cute, if perhaps obvious: A well know Bear flips Bullish.

After mulling it over for a few nano-seconds, and seeing the soaring futures, I decided to have a little fun with Doug: What if the market actually mistook his joke for real, and the market rallied on the faux news?  Thus was born a meta April Fool’s joke, about another April Fool’s joke.

It was a parody about another parody, using the conceit that the first parody was to be treated as if it were believed by others as real. 

A few people in the financial media got it right away — especially those who were mentioned by name. Dave Callaway of Marketwatch, and David Gaffen of the WSJ knew they hadn’t written any such articles. They swatted a way a few media calls about this. 

Other sites were not so quick to dismiss the joke, and reported on it as if it were a straight piece of blogger induced news.

If there is any good news in this, the mainstream press were savvy/cynical enough to not buy into this goof; other sites were perhaps less grizzled. 

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For the record, this was a goof.

Doesn’t anyone recognize an April fool’s joke when they see one anymore ?

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Sources:

deleted to protect the gullible, which is a word that surprisingly, is not in the dictionary. Look it up, you’ll see…

Category: Markets, Psychology

Media Appearance: Kudlow & Company (4/01/08)

Category: Media

BEAR MARKET RALLY

Category: Economy, Markets, Psychology, RR&A

NY Fed Map Tool

Category: Credit, Federal Reserve, Real Estate

Housing slump comes to the Hamptons

Category: Economy, Finance, Real Estate

Inflation Pinch

Category: Financial Press, Inflation, Psychology

Internet Hoax Gooses Stock Market

Category: Financial Press, Markets, Short Selling, Trading

Google: Search One Day Into The Future

Category: Technology, Web/Tech

Hank Paulson’s Cognitive Dissonance

Category: Credit, Derivatives, Psychology, Taxes and Policy

FT: John Authers on Q1 Earnings

Authers notes (like us) there is still way too much optimism on Earnings growth; Even ex-financials, expectations are for double digit  gains:

click for video:
Global_earnings_forecast

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Source:
Short View
FT, March 27, 2008
http://www.ft.com/cms/bfba2c48-5588-11dc-b971-0000779fd2ac.html?_i_referralObject=699507360&

Category: Earnings, Markets, Video