When Barry Ritholtz Talks, People Listen
At about 8:30 a.m. yesterday, Yahoo!’s Tech Ticker posted an interview with Barry Ritholtz, noted finance guy and blogger. In recent times, he has also been very bearish on the market.
But he thinks the bottom may be near. Here’s his money quote from the interview: “There’s a big bear market rally coming.”
Seven and a half hours later, the Dow had risen 5.8 percent.
So was this a case of causality, or merely correlation?
Probably about as much causality as the typical explanations of stock-market movements. If there really was a specific reason behind yesterday’s spike, it probably had to do with Citibank, not Ritholtz.
But given his excellent timing in this case, I wouldn’t be surprised if a lot of people got out their wallets the next time they hear him speak.