Friday The 13th Mini-crash - Survey

Survey

Many investors were left stunned. Since most market participants blame the UAL deal as the culprit, survey researcher William Feltus and Robert Shiller, the author of Irrational Exuberance, conducted a telephone survey of 101 market professionals in the business days following the crash asking if they had heard about the UAL news before or after the crash; 36% surveyed said they heard about it before the losses set in, and 53% said afterwards.

The market professionals also believed that the UAL story was just an attention grabber, with traders just trying to find a reason to sell. Fifty percent believed that was the reason while 30 percent believed the news would reduce future takeovers.

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