Corona Virus
Fear Versus Risk
Fear is an unreasonable emotion. That once it has you in its grip, can control all of your actions and responses. Risk on the other hand, is the measure of a hazard or loss. These two are as different as night and day. Although they both try to assess the potential downside of any event, one uses our rational thought and control, while the other uses just blind emotion. And ultimately leads us to become out of control, reacting in a manner that really makes no sense, and in fact can do great harm to ourselves. As a nation, our reaction to the corona virus, is threatening to move from a rational risk based response, to the pure emotion of fear.
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This Ain't Your Granddad's '87
The Crash of 1987, was a unique time in financial history. For anyone who live through the 87 Crash, you'll remember it as a dark time, when markets simply imploded. The market infrastructure at the time, simply couldn't keep up with the avalanche of sell orders. Wave after wave of unrelenting liquidations were thrown at us. And those of us on the trading desks, simply couldn't keep up. An investor might enter an order in the morning, and not to receive a report until later than night. 12 hours latter. It was bad.
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