Scratch an intellectual on the trading floor of the New York Stock Exchange, and under that Brooks Brothers shirt you'll usually find the hair of a bear. This is because smart people excel at criticism. They love the sound of skepticism, nitpicking and naysaying. While the unwashed masses on Main Street prefer good cheer, the ursine mossbacks on Wall Street prefer a Bronx cheer.
That's one reason the past year's rally in stocks has provoked such loathing among brainy professionals. They look at the rising personal balance sheet of the country's swelling army of 401(k) holders and a well-bred anger wells up inside.
Topics: TheStreet