Wednesday, March 26, 2008

Bear Stearns Poll Results

The results from my first blog poll are in. Just as a reminder, the question I posited last week was "Why is Bear Stearns trading way above the JP Morgan offer price of $2.00 per share?" Forty four votes were recorded and the winner by a plurality was that "People are stupid." The results:

Short covering 4 (9%)
A higher bid will come 12 (27%)
Bondholders protecting themselves 11 (25%)
People are stupid 17 (38%)

As we all know now, a higher bid did come in, in this case from JP Morgan, the original bidder. So it would seem that people aren't that stupid after all.

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