Earlier today we stumbled upon a five page long Associated Press article that we hoped would provide new illumination on the behaviour of markets after the fall of Lehman Brothers. As regular readers know, we’ve taken a pretty contrarian position on Lehman’s failure. We were curious about what the Associated Press would conclude when it looked at the matter at length.
We certainly didn’t expect to find what the AP actually published under the title The “Dow Jones industrials’ moves since Lehman fall.” The piece is so weird that it is almost hard to describe. It is literally just a list of the closing levels of the DJIA every day since the collapse of Lehman. Nothing more. Nothing less. Just dates and index levels.
It’s just about the weirdest thing we’ve ever seen from a wire service.