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.
Wednesday, March 26, 2008
Bear Stearns Poll Results
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