That's from "Inhale, exhale, pause" which also links to some palliative analysis (including Gavekal) and a somewhat euphorically gloomy Paul Krugman who may, just may mind you, still be stinging from the election night [actually, wee hours Nov. 9] pronouncement:"In a bear market, don’t do anything on a Monday that you wouldn’t have done on the Friday,"
“It really does now look like President Donald J. Trump, and markets are plunging. . . . If the question is when markets might recover, a first-pass answer is never.”You can't really hold that one against the good Herr Professor Doktor Doktor (two degrees, German style) though, he joins Prof. Fisher in the "Man I wish I hadn't said that" market commentary hall of fame.
Or yours truly who, speaking of Germans, thought they were a lock in May 1940...
On the other hand, P.K.'s 1998 thoughts about the interwebs...well:
"The growth of the Internet will slow drastically, as the flaw in 'Metcalfe's law'–which states that the number of potential connections in a network is proportional to the square of the number of participants–becomes apparent: most people have nothing to say to each other! By 2005 or so, it will become clear that the Internet's impact on the economy has been no greater than the fax machine's."Just to be fair though, here is Prof Krugman's comment on that comment at Business Insider in 2013.
Now where was I? Ah yes, if Friday's are 'Skip and go naked day' at your firm don't take Mr. McCrum's admonition as license to reprise the dancing about the trading floor thing on Monday as well.
But do take in "Inhale, exhale, pause".
And, as a special bonus Dan, he makes an appearance at Alphaville's Markets Live.
The guy knows a thing or two about markets.
