You glance at the Finviz World Heat Map for the day. If it’s reddish, they’re having a bad day. Let’s take a look at it from today:
And as you have by now noticed (unless you live under a rock – and if you do, it better not be a northern rock, ah hah) investment bankers in particular along with a lot of the financial sector have been having a very, very bad day today.
As is always in a crisis, experts and “experts” are of course having a field day with this. There are the we-told-you-sos and the it’ll-only-get-worses, neither exactly a stellar performance in prediction. There’s the mandatory piece of (as such sound) advice that you shouldn’t sell your funds now – conveniently neglecting to mention that if everyone did that, then we’d really be in trouble. Losses are being counted all over the world. And every other country rushes to explain that all that bad stuff will mostly stay in the US, that our banks could never face a crisis like that – ironically including Finland, where we had our very own banking crisis less than two decades ago.
My day, on the other hand, was just fine. Maybe a bit more interesting than average due to these events.
