Why such confidence in the face of loss? Psychologically, when we make a commitment to something -- e.g., the stock market -- we tend to rationalize any conflicting information and avoid behavior that would alter the commitment.
Why did gold and silver stocks just get hammered, at a time when commodities are considered a safe haven against global uncertainty? The answer is that the sector has been the target of massive short selling.
Part of what will make reforming Wall Street possible is to move Wall Street out of the center of our focus... to take away the celebrity element that has been part of its culture for the last 30 years.