Financial Services & Recruiting academyrecruiting on 22 Jul 2008 10:22 am
The sky is falling (yet again). Or is it?
Same story, different day…
I saw this headline early this morning (how could I not, given that it was everywhere):
“Wall Street to tumble on disappointing 2Q results”
As I write this a few hours later, here’s what’s been written over on the Yahoo Market Update:
“It looked like Tuesday was going to be an ugly session, with stocks opening sharply lower following worse-than-expected earnings reports from several widely held tech and financial names. Stocks then staged a turnaround, as a drop in oil prices prompted an impressive early afternoon recovery, led by the financial sector.”
(Albeit in the fine print, not the blaring headline, of course.)
Wait - what happened to the “tumble”?
Then again, there are about three hours left in the trading day as I write this, and the naysayers could still turn out to be right. But what does it matter?
I’m definitely not making light of the tough times some people and companies are finding themselves in now or trying to pretend they don’t exist. But it does get old watching people write this kind of stuff daily - why add to the problems we already have by predicting gloom-and-doom that may or may not even happen? I don’t see how it helps anything.
No matter what your personal situation is right now, just don’t get caught up in it. No point in it in general, and surely something you can’t afford to do when you’re a financial advisor.
