“Hertz looks at the market and sees there is a group of irrational traders who are buying the stock, and the response to that is to seek to sell stock to these people in hopes of raising some amounts of money to fund their restructuring,” University of California law professor Jared Ellias told reporters.

Sounds like Jared is miffed that he didn't cash in. The fact that Hertz is up like 200% since the beginning of the month means that the traders are, in fact, rational.

What's great about the market is that it's a self-fulfilling prophecy. If you're wrong, and everyone else wrong, you all become wrong. The only way to, in fact, be wrong, is if everyone else disagrees with you. So what makes your decision wrong is the fact that you were the only one to make it.

I applaud these Hertz traders and feel a little disappointed that I didn't jump in on it. Man, I bet Icahnn is pissed. He could have made one the biggest killing the Street has seen in a long time! Of course, according to our friend Jared, he's the rational one in all of this.