Part of the problem with the USA
The media is gullible – about gullibility in this case
We kind of knew this already, but ABC’s Hungry Beast did great job exposing it.
“An academic survey of companies appearing on the cover of US business magazines over a twenty-year period says that the magazines usually backed the wrong horse. Comparing share prices of companies 500 days before and 500 days after coverage indicates that “positive stories generally indicate the end of superior performance and negative news generally indicates the end of poor performance”. Ref: The Economist (UK)”
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