You know it is Aprils Fool Day when
The biggest bank in Switzerland (UBS) announces US$ 19 billion of writedowns in its quarterly results, posts a net loss for the quarter and the share price goes up.
Though analyst estimates were US$ 11 billion of writedowns, the losses were greater than expected.
Dont know what was happening?
Was it like the shareholders thought UBS was playing an April Fools prank on them?
Well I do agree on the saying
"Markets can remain irrational longer than you can remain solvent"
I DO NOT WORK FOR UBS AND HAVE NO VIEWS ON THE STOCK PRICE NOR DO I OWN ANY.
THIS IS MY PERSONAL VIEW AND MY SURPRISE ABOUT STOCK PRICES BEHAVING IN A CERTAIN WAY ON A CERTAIN DAY.
THIS VIEW IS NOT SHARED BY MY EMPLOYERS OR COLLEAGUES.