And speaking of irrational exuberance

How else to explain this one: GM shares rise despite $3.2B loss. Not with my money they didn’t. Would this be evidence of the greater fool theory?

Best quote in the story goes to CFO Frederick “Fritz” Henderson who seems to inhabit a world where gas prices are much, much lower than the one the rest of us are living in. “The Yukon, Yukon Denali, Escalade, Tahoe, Suburban, Avalanche — we love them. So do customers, that’s even more important.”

Yep, I expect sales of ginormous SUVs to just keep on going. I also expect the Cubs to win the World Series. And I am Marie of Roumania…


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