Balancing all these factors, it's our view that the 13% decline in the share price as we write this is an overreaction, ahead of what we believe will be strong Q1 results next week.
In the past, though, such collapses did less damage to the financial system than the regulatory overreaction that followed them.
It was a fateful description of the new reality, creating the likelihood of an overreaction.
That risks disappointment and overreaction if things go wrong.
"Because of the overreaction, people without deep pockets will suffer, " he says.
The first is immediate and practical: was all this chaos man-made-an immense and costly overreaction by regulators to a spectacle that posed only a minor and manageable risk?
I continue to believe, based on what I have heard, that there was an overreaction in pulling Professor Gates out of his home to the station.