Comment Hurting speculators is good. (Score 5, Insightful) 286
The Bloomberg/Google slipup a while back also caused large-scale losses, in that instance to United Airlines. Bloomberg actually stated that it does not verify the accuracy of news from other sources. Basically, it trusted Google to do the verification.
This is actually the way it should be. Using automated trading and real-time news to speculate on the stock market should, on average, lose you money. It gives negative inducement to speculation. Investments need to be chosen based on real data, and concrete value. Not based on what you think others will do.
If this is a legitimate case of attempted manpulation, the SEC can do its job. If not, it's a small loss that should have been factored into any risk calculations when the investors decided to trade like this.
This is actually the way it should be. Using automated trading and real-time news to speculate on the stock market should, on average, lose you money. It gives negative inducement to speculation. Investments need to be chosen based on real data, and concrete value. Not based on what you think others will do.
If this is a legitimate case of attempted manpulation, the SEC can do its job. If not, it's a small loss that should have been factored into any risk calculations when the investors decided to trade like this.
