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Group think

Joe Kennedy, father of JFK, correctly read the sentiment of the market in 1929. He claimed he sold all his stock when he got a share tip from the shoe-shine boy. Between the crash of 1929 and 1935 his net worth soared to $2.85bn in today’s terms.

Traders and pundits measure the levels of fear and greed in the market with indices like the VIX, which measures volatility in the S&P 500. Of course, the VIX is a rear-view mirror. It can only tell you what sentiment was. If you could tell what sentiment will be before trading opens, wouldn’t that give you an edge?

Somebody who saw the faces of everybody who came in to trade every morning, for example?

- Why You Should Get Financial Advice From Wall St Doormen, By Brian Millar, Forbes.com, June 20, 2013.

3. In the Trayvon Martin case—the horrendous instance of a 17-year-old being shot in a tussle—caused emotional triggers for black Americans who remember years of lynchings, segregation and injustice. To further exacerbate matters, the present experience of people of color today in America is still unpleasant in regard to being profiled by people in law enforcement—it is unpleasant even for those who think it may be necessary—of which Zimmerman was a part despite the fact that he was merely a civilian patrol person.

All this history, combined with the initial response of the media virtually convicting Zimmerman before he had a fair hearing, ensured that people of color would be outraged if Zimmerman was found not guilty, irrespective of what kind of detail would come out in the trial. This is simply because Trayvon already became larger than life, bigger than this particular trial, when he became a post-mortem symbol of racial injustice.