The "Hathaway Effect": How Anne Hathaway makes the stock market rise and fall.
The graph above depicts the nearly three-point rise of Berkshire-Hathaway shares on the day after this year's Academy Awards. Although the actress Anne Hathaway, co-host of the 2011 Oscars, has nothing to do with the conglomerate corporation, author Dan Mirvish seems to have found a correlation between her and the company: Every time there's a lot of news chatter about Anne Hathaway, Berkshire-Hathaway, which is headed up by Warren Buffett, sees a jump in its stock prices. The evidence (BRK.A is Berkshire-Hathaway's trading name):
Oct. 3, 2008 - Rachel Getting Married opens: BRK.A up .44%
<p> Jan. 5, 2009 - <em>Bride Wars</em> opens: BRK.A up 2.61%</p> <p> Feb. 8, 2010 - <em>Valentine's Day</em> opens: BRK.A up 1.01%</p> <p> March 5, 2010 - <em>Alice in Wonderland</em> opens: BRK.A up .74%</p> <p> Nov. 24, 2010 - <em>Love and Other Drugs</em> opens: BRK.A up 1.62%</p> <p> Nov. 29, 2010 - Anne announced as co-host of the Oscars: BRK.A up .25%</p>\n</blockquote><p> What's more, on the Friday before the Oscars, BRK.A saw another two-percent increase.</p><p> Mirvish blames this phenomenon on automated trading programs scouring the internet for stories about "Hathaway" and then applying that data to the stock market, completely unaware of the difference between a Nebraska-based business and a celebrity actress. If he's right—and I hope he's not—it's a bit terrifying that our financial markets can be manipulated like this. Nevertheless, a word to the wise investor: Hathaway the actress will be starring as Catwoman in 2012's <em>The Dark Knight Rises</em>.</p><br/>
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