Magazine article The Spectator

It's Time for an Eeyorist View of the Market - Good Morning, If It Is, Which I Doubt

Magazine article The Spectator

It's Time for an Eeyorist View of the Market - Good Morning, If It Is, Which I Doubt

Article excerpt

Two views make a market, or three, if you count mine. The optimists think that share prices will soon get back to normal and the pessimists fear that this may well be true. As for me, my patient readers (if such there be) will have long since identified me as an Eeyorist. Invited to greet the unseen with a cheer, I am temperamentally likely to answer, like my exemplar Eeyore, `Good morning. If it is a good morning. Which I doubt.' Anyone who shared my doubts will have missed the later stages of one of the great bull markets of all time, with exceptional opportunities for making money, and, of course, later on, losing it. I doubted the transformational powers of the new technology. I was not as enthused as I might have been about the global superhighway. Much as I hoped that we could all go motoring along this highway at full speed without any danger of skidding, I felt that this was asking too much of life. …

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