But that's not the culture of investing the media instill.
Instead, it creates an absurd story. Sells it as reality. And then, when it appears it's about to be proven wrong, the media spits out headlines like this one from Reuters:
Facebook's Mobile Surprise Allays Growth Fears
Yes, just like a $329 iPad mini from Apple, it was a "surprise" only to the minions who passed off stories and "analysis" poisoned by falsehoods and lack of patience as objective fact.We got it wrong from the get-go. Now, it looks like we'll be proven wrong so we'll just call the whole thing a "surprise." What a business. I'm not surprised. Mark Zuckerberg is not surprised. And, happily, neither one of us is caught in a pretty nasty short squeeze this morning. At the time of publication the author had positions in FB and P. Follow @RoccoPendola This article was written by an independent contributor, separate from TheStreet's regular news coverage.