‘That’s a Wrap’
By Rod Blake
When the investors, traders, brokers and portfolio managers closed down their terminals at the end of last week many were feeling very complacent in that the markets were playing out much like the pundits had predicted . That is, the last U.S. Fed interest rate increase was just few days away, and so far the economy and markets seemed to have pushed through any meaningful recession. Now all they had to do was make sure their favourite positions were all filled and sit back and wait for the next bull market to take them higher….And then on Monday – First Republic Bank failed .
The way I see it – In the brokerage business we often quoted Warren Buffet’s “There is never only one cockroach” rule when referring to a corporate scandal or some type of economic event. In this case it refers to […]
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