Hacker News new | past | comments | ask | show | jobs | submit login

Not really, it can be obvious the market is overvalued, to the point where almost everyone agrees this is true, but there is still money to be made and the momentum is still upwards so it keeps getting even more overvalued. A trader doesn't care how overvalued a share is compared to fundamental economics, he cares whether it's overvalued compared to it's likely price tomorrow or in 10 minutes, or in a few milliseconds. Then something happens that makes it real, like Lehmans being unable to meet its obligations.

Guidelines | FAQ | Support | API | Security | Lists | Bookmarklet | Legal | Apply to YC | Contact