April 29, 2008
Column: Kipling’s wise words
A wise colleague once said: “If you can keep your head when all about you are losing theirs, you have probably failed to grasp the seriousness of the situation.”
How bad are market conditions today? Should we be panicking or is it time to keep a cool head when all about you have lost the plot?
I cannot answer these questions for you. But we should, I think, be guided by the sobriety and realism of the words quoted above. Even if some economists have predicted all seven of the last three recessions, that doesn’t mean they are necessarily wrong this time.
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