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UPDATED: Aha.. Apparently the blog post I referenced below was an April Fool by Barry Ritholtz of the Big Picture himself. The bullish April Fool's column by Mr. Kass exists, but the media reaction Ritholtz described was invented. How double-reverse-meta.
Sadly, the post was a quite easily believable and not weird/implausible enough to trigger my BS detector.
Following my own advice to think before passing on information, I had in fact tried (before posting it at all) to look at the original bullish column, but it was behind a subscription wall so I was unable to do aught but rely on Mr. Ritholtz's prior reliability.
Someone completely changing their outlook and putting 'April Fool' at the end (as Kass apparently did do in his original column) is clearly a joke.
A media critic (as Barry often is) criticizing the media for something they could well have done is far from clear as a spoof. (Some of the mentioned reports were on TV, no less, which isn't as easy to verify for oneself after the fact.)
I will have to be more careful, obviously.
Internet Hoax Gooses Stock Market [fake blog post from The Big Picture]
The lesson to be learned: Some people should never try to do April's Fools Jokes. A financial analyst commenting on the stock market in such a way is like a fireman yelling fire in a crowded theater.
A fair point.Add a comment...
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