Fin moguls down
Bail outs offered but the ones 'bailing out' hardly know what they are doing
Buy outs happening overnight and the new owners are still grappling to find out what they bought
Someone told me yesterday about a grade A downtown office building in London that had Lehmann as a tenant and 4 year rentals were insured by AIG!
Sensex in 4 digits
A huge bear hug
And not knowing the extent of it all.
I read somewhere the other day that we are staring at the eye of the storm so we do not know the extent of havoc it is going to wreck.
Seems like even if we are able to assess the extent of this problem, we can solve it!
And then think about this time last year! I don't know whether that thought makes me nostalgic and euphoric and just simply sad!
I told a friend yesterday that in last 3.5 years of working I have seen the best and now I am begining to prepare myself to see the worse of it all.
Anyone who thinks he/she is unaffected by all this is only living in a fool's paradise.
I still remember Mr. Colin dyer's (President and CEO, JLL) speech I attanded roughly 11 months ago. After telling (most eloquently) about what is amazing about India as a market, as an opportunity and how he has always been told by one and all about how Indian economy is 'different', 'decoupled', 'immune to global financial shocks', 'not following trends as all the developed and emerging markets around the world' etc. he pulled out from his jacket pocket a coin. Flipped it and watched it as it fell to the ground. And he said, 'But India, too, has gravity! What goes up has to come down!'
How far down is the only question...
Maybe Warren Buffet knows...