{"id":358448,"date":"2010-02-22T17:03:09","date_gmt":"2010-02-22T22:03:09","guid":{"rendered":"http:\/\/www.disinfo.com\/?p=23038"},"modified":"2010-02-22T17:03:09","modified_gmt":"2010-02-22T22:03:09","slug":"stock-market-slows-as-tiger-woods-apologizes","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/358448","title":{"rendered":"Stock Market Slows as Tiger Woods Apologizes"},"content":{"rendered":"<p>So for thirteen minutes on Friday, the world&#8217;s biggest casino came to a crawl while Tiger Woods made his <a href=\"http:\/\/www.youtube.com\/watch?v=w0m87G2FzWA\">&#8220;apology&#8221; speech<\/a>. (One can argue that the apology was more for Nike&#8217;s benefit than his wife&#8217;s.) As financial blog <a href=\"http:\/\/www.zerohedge.com\/article\/tiger-woods-apology-causes-greater-market-volume-spike-fomc-discount-rate-hike-announcement\">Zerohedge<\/a> puts it:<\/p>\n<blockquote><p>When Tiger&#8217;s speech causes a more dramatic volume impact than the FOMC you know this market is all sorts of perfectly efficient. Bloomberg&#8217;s chart of the day below shows the total NYSE volume change in-between when Tiger started his convoluted and meandering mea culpa, and when he ended.<\/p>\n<p style=\"text-align: center\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-23039\" style=\"margin-left: 20px\" src=\"http:\/\/disinfo.s3.amazonaws.com\/wp-content\/uploads\/2010\/02\/TigerAffectsStockMarket.jpg\" alt=\"TigerAffectsStockMarket\" width=\"534\" height=\"283\" \/><\/p>\n<\/blockquote>\n<p>FOMC stands for <a href=\"http:\/\/www.federalreserve.gov\/monetarypolicy\/fomc.htm\">Federal Open Market Committee<\/a>, a.k.a. &#8220;The Fed&#8221; that many disinfo.com visitors have plenty to say about. So Tiger had more impact than a <a href=\"http:\/\/www.federalreserve.gov\/monetarypolicy\/discountrate.htm\">Fed Discount Rate<\/a> hike announcement that day, good to know for the next time I talk to some finance guy who cold calls me about getting into the market&#8230;<\/p>\n<p>Seems like just more proof that, as the <a href=\"http:\/\/www.disinfo.com\/2010\/02\/u-s-economy-grinds-to-halt-as-nation-realizes-money-just-a-symbolic-mutually-shared-illusion\/\">Onion recently put it (brilliantly)<\/a>, money is  a &#8220;symbolic, mutually shared illusion.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>So for thirteen minutes on Friday, the world&#8217;s biggest casino came to a crawl while Tiger Woods made his &#8220;apology&#8221; speech. (One can argue that the apology was more for Nike&#8217;s benefit than his wife&#8217;s.) As financial blog Zerohedge puts it: When Tiger&#8217;s speech causes a more dramatic volume impact than the FOMC you know [&hellip;]<\/p>\n","protected":false},"author":2604,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-358448","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/358448","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/2604"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=358448"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/358448\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=358448"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=358448"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=358448"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}