Re:Why I Am Leaving Goldman Sachs
by jrwoodruff on Wednesday March 14, 2012 @12:49PM
(#3704011)
Goldman survived for 140 years without promotion problems. My personal theory is these problems - corporate profit before clients, short-term gains, lack of long-term vision - is a symptom of our current culture and, more broadly, the shifting information landscape. 100 years ago, few people even knew what the DOW index was, let alone followed it daily.
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Re:Why I Am Leaving Goldman Sachs
by polyfractal on Friday March 16, 2012 @10:21AM
(#3713410)
Funnily enough, the Dow was a relatively unimportant indicator until the Great Depression, when the media seized upon it as something to watch on a daily basis. It was originally intended not to be checked more than a few times a month, and only as a brief snapshot of the economy.
It's importance in popular media and culture is vastly overblown. The rising and falling of the Dow on a daily basis is basically worthless from an economic point of view - it's just noise.