This was undoubtedly the year of volatility. The Dow Jones Industrial Average moved more than 200 points on 16 different days, but was still up only about 6% for the year through late December. Meanwhile, Treasury prices moved way up and financial stocks went kerplunk.
With such wild swings becoming the new normal, it was easy to be on the losing side of the market's irrationality day to day.
The worst calls of 2011 were ones where well-known investors (or in the case of a certain airline, nearly all of Wall Street) made big bets that went horribly wrong. Here are the five biggest investing blunders of the year.
|Why AT&T wants Time Warner|
|American vigilante hacker The Jester defaces Russian government website|
|Massive cyberattack involved tens of millions of IP addresses|
|AT&T acquires Time Warner in media mega-deal|
|McYeah! Big comeback for McDonald's continues|