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Showing posts with the label mass psychology

Why We Need a Roaring Bear on Wall Street

There is a kerfuffle underway about a statue called "fearless girl" recently installed in the financial district of Manhattan. It isn't the biggest of controversies, but it does have some symbolic significance, and there is a pragmatic lesson here about how markets work. http://www.creditslips.org/creditslips/2017/04/wheres-the-bear-.html#comments   Since 1989, the financial district has featured the "Charging Bull," a statue by Arturo Di Modica. He originally located it directly in front of the New York Stock Exchange, but it was subsequently moved to a small park in the neighborhood. In March of this year, a four foot tall bronze statue of a grade school aged girl (pigtails and billowing dress) standing in the path of the bull in the usual stance of defiance (legs spread, hands on hips, face forward toward the danger) made its appearance. Fearless Girl is sufficiently close to Charging Bull that they appear to be a single work , which has Di Modica ...