Complacency and Stupidity Back with a Vengeance

As evidenced by markets being up about 1% today after the terrible Citigroup earnings - or lack thereof- we can safely say that complacency and stupidity is back with a vengeance. Of course part of it has to do with the markets being rigged by big manipulators such as Goldman and the Fed. However, a lot has to do with complacency of the trend driven hedge fund space full of stupid managers trying to follow the trend because they do not know what else to do. Why do people give any money to these fools? I guess the answer is that they are fools, too. The stupidity in the marketplace is apparent in many ways. One of the ways to tell is to look at all these funds trying to join the quantitative trading area. All job postings in the hedge fund field is for quantitative researches and traders. And this is about a year after almost every single one of them including Bridgewater, AQR, Goldman Globa Alpha, all quant trading desks of investment banks (most of them have been shut down by the way), and that big one that was saved by the Fed - the Chicago one - what was it called??? Oh yes, Citadel and even Simons' fund all almost went under. This is the new fashion though. So watch out for this to end even worse, 1987 style.